If you own your own business, have really good people working with you, you’d like to keep them, we assume?
How about becoming an employer of choice, because you help your biggest asset, your staff, by helping them look after their own financial future and that of their family, right while they are at work.
According to the most recent research from the Exit planning Institute state of owner readiness survey – 64 % of privately owned businesses in the USA are owned by Baby boomers ( aged between 51 and 69 ) and significantly 80 % of their family’s total wealth is tied up with the business and related assets. In many cases the business was started 20 years ago and has grown significantly, over that period the owner has purchased assets – buildings, equipment etc sometimes in the trading entity but often in separate entities and structures for asset protection and taxation. In addition any lenders have taken security over various assets within the group.
This is a massive issue for baby boomer business owners who have not spent any time effort or money on exit planning ! Imagine running a successful business for 20 years and building up a substantial pool of assets and messing up the exit and therefore failing to crystallize that value and achieve a successful exit.
“The proper man understands equity – the small man, profits” Confucius 551 – 479 BC – this quote, though very old, focuses on this exact problem !
Have a look at our Staff Financial Planning tab to find out more or call us on (08) 9256 3788 for your complimentary consultation.
Alternatively you can Request More Information and we’ll be in touch to set an appointment time that is convenient.