Business Succession Planning
Business succession planning is a necessity for any family-owned business, although it is often an uncomfortable subject to gain any traction on. As the owner of a business, chances are you have begun planning for retirement. However, there is much more to retirement than simply turning over the keys to office.
| important questions |
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| How do you ensure that you will have enough money to secure a comfortable retirement?What will happen to the business after you leave?
Who will manage the business and in what capacity? How will you go about the complicated task of transferring ownership? Is it better to have the business carry on within the family, or is it a better idea to sell the business? What are the tax implications of a business ownership transfer? |
Discussions regarding business succession planning are often difficult to begin because they involve a wide range of emotions and sometimes conflicting priorities and agendas. Without a strong succession plan in place, your business may not survive the transfer to the next generation.
At Anstiss & Co., our team of experienced professionals has been helping to develop business succession plans since the firm opened its doors in 1964. We understand the nuances of transferring ownership of a business, enabling you to maximize the effectiveness of the business going forward and while at the same time minimizing your tax burden.
