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Business Succession

Whilst most business do not survive long after a change in key leadership, Ferguson Cannon’s business succession planning team can assist small to medium enterprises in establishing a business succession plan to ensure the continuity of their business and the maximum returns to its owners.

Succession Planning is an essential issue for all businesses to consider in their strategic planning.

Business Succession Planning

The key objectives for effective business succession planning include:

  • Ensuring the ongoing management and control of the business
  • Ensuring the ongoing financial viability of the business
  • Addressing the personal requirements of owners
  • How will the transfer of ownership be funded?
  • What are the Tax Considerations – CGT, GST, Stamp Duty
  • How are business debts & personal guarantees dealt with
  • Maintain the equity of continuing owners
  • Ensuring a smooth transition for all – staff, family & investors

We are experts in preparing business succession deeds which details the who, what, when, why, and how changes in ownership and management are to be executed.

Variations in this business succession plan include where a buyout is funded by insurance on the death of a key principal, or the progressive buyout over a period of time on the retirement of a key principal.

We also review and prepare key documents such as partnership agreements, shareholder agreements, unit holder agreements and company constitutions.

We will work with you, your accountant and financial advisors to ensure that all of your objectives are met and your business capital is preserved into the future.

We will also be able to provide fixed fee quotes for the majority of this type of work.

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