From the moment you initiate the succession planning process it usually takes a few years to complete. So it makes sense to start thinking about handing over the reins in good time. If you’re intending to take over a business, don’t do anything without taking a very thorough look at its books and checking its financial health.
The federal government’s SME Portal provides helpful tips on the most common forms of transferring a business, corporate valuation methods, pricing a business, and how to go about winding up a company.
KMU Next foundation
KMU Next is a charitable foundation providing neutral information and independent advice around succession planning.