When is a good time to sell or exit a business? [video]

Posted by James Price | JPAbusiness on 26-Jan-2022 06:00:00

Seeking to exit a business just a few weeks or months after making the decision to do so, is not the best way to optimise value in a business sale.

As I explain in this video, it’s much wiser to incorporate exit and succession plans into your ongoing business planning and prepare for a sale over a period of several years.

Continue reading...

Topics: Selling your business, Exiting your business, Video, Succession planning, selling a business, business succession

Don't let over-reliance on key personnel erode business value [video]

Posted by James Price | JPAbusiness on 31-Mar-2021 02:00:00

Many businesses, particularly small to mid-sized businesses, rely heavily on one or two key individuals for the business to operate.

These individuals are often the business owners and they may be reluctant to delegate control and decision making for a variety of reasons.

Whatever those reasons, the result is centralised decision making, knowledge and experience, which are not easily transferable in a business sale.

Ultimately, of course, that impacts business value – and not in a good way!

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Topics: Valuations, Exiting your business, Template, Video, Succession planning, Business valuation, risk management, succession, business succession, business value drivers

How to use succession planning to boost business value [template]

Posted by James Price | JPAbusiness on 10-Feb-2021 02:00:00

Succession planning is the process of identifying and developing internal staff who have the potential to fill key business leadership positions should existing leaders – including yourself – leave the business.

It’s about creating a back-up system for your people resource and it should start the minute you take on a business’ ownership, whether you buy it or start it from scratch.

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Topics: Business Value, Business Planning, Template, Succession planning, business succession

Capital gains tax when transferring a business to a family member

Posted by James Price | JPAbusiness on 18-Nov-2020 02:00:00

The key CGT issue when transferring assets in a non-arm’s length transaction (i.e. the sale price may not be at fair market value) is the market value substitution rules.

These rules basically mean when you’re selling assets and the transfer is deemed to involve parties not acting on an arm’s length basis, then the CGT rules impose what would be a fair market value on the transaction.

[This information comes from our eBook: Capital Gains Tax 2.0 – Issues to consider when selling your business.]

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Topics: Family business, Capital gains tax, Succession planning, eBook, tax minimisation, taxation, business succession

How to talk with family about succession and estate planning

Posted by James Price | JPAbusiness on 21-Oct-2020 02:00:00

When it comes to succession and estate planning, it’s never too early to start thinking – and talking – about it.

However, some business owners prefer not to confront their own mortality and just continue on running their business while avoiding thinking about, or planning for, the inevitable i.e. their ‘exit’. This creates the perfect environment for conflict among those left behind.

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Topics: Business Planning, Family business, Succession planning, estate planning, succession, business succession

Capital gains tax issues when transferring a business to a family member

Posted by James Price | JPAbusiness on 19-Feb-2020 02:00:00

The following information comes from our updated eBook: Capital Gains Tax 2.0 – Issues to consider when selling your business.

The key CGT issue when transferring assets in a non-arm’s length transaction (i.e. the sale price may not be at fair market value) is the market value substitution rules.

These rules basically mean when you’re selling assets and the transfer is deemed to involve parties not acting on an arm’s length basis, then the CGT rules impose what would be a fair market value on the transaction.

Continue reading...

Topics: Business transfer, Family business, Capital gains tax, eBook, taxation, business succession

How to build value by starting succession planning early [cheat sheet]

Posted by James Price | JPAbusiness on 12-Feb-2020 02:00:00

The following cheat sheet contains 6 succession strategies you can start employing in your business today.

Adopting these strategies will help future-proof your business for when and if you decide to take up an exit opportunity, or relinquish operational involvement in your business.

It’s never too early to start thinking about your succession plan and developing the skills of your team and business capability.

If you future-proof your business in this way, the business should thrive even if you’re not there, and the market should reward you.

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Topics: cheat sheet, Succession planning, staff management, business management, running a business, business succession, succession plan

How does succession planning add value to my business? [template]

Posted by James Price | JPAbusiness on 28-Aug-2019 02:00:00

Succession planning is the process of identifying and developing internal staff who have the potential to fill key business leadership positions should existing leaders – including yourself – leave the business.

It’s about creating a back-up system for your people resource and it should start the minute you take on a business’ ownership, whether you buy it or start it from scratch.

Continue reading...

Topics: Business Value, Business Planning, Template, Succession planning, business succession

When is a good time to sell or exit your business? [video]

Posted by James Price | JPAbusiness on 20-Feb-2019 02:00:00

 

Seeking to exit a business just a few weeks or months after making the decision to do so, is not the best way to optimise value in a business sale.

As I explain in this video, it’s much wiser to incorporate exit and succession plans into your ongoing business planning and prepare for a sale over a period of several years.

Continue reading...

Topics: Selling your business, Exiting your business, Video, selling a business, business succession

Succession war stories: the good, the bad and the average

Posted by James Price | JPAbusiness on 19-Dec-2018 02:00:00

Succession stories from the corporate world

The following business succession examples come from the international corporate world and have been well reported in business advice and human resources articles and blogs.

They provide some valuable lessons on how to – and how not to – plan for succession.

HP – The bad

Over the course of 15 years HP (Hewlett Packard) had seven different CEOs – each horridly replaced with the next.

At its core, the problem was that the incoming CEOs were not adequately educated on the innermost workings that made HP successful. They came in with sweeping changes that contradicted the soul of HP.

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Topics: Succession planning, business management, business succession

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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