A family-owned or closely held business is a source of pride for its owner. It’s also your most significant asset. It provides you with income today as well as the foundation for your retirement in the future.
The personal and business goals of the family business owner are intertwined. Any decisions you make affect not only your business, but you as an individual. A family-owned business requires unique financial strategies.
Planning your business or practice exit is a process that begins 3-10 years before you want to leave. Creating a successful transition includes decisions on who will be the new leader, what advisory role other family members will hold and considerations on development of existing managers. The transfer of assets, ownership and management of your business requires a formalized plan.
Using the The BEI Seven Step Exit Planning Process™ SVA will help you develop your exit planning strategy. We will help you establish your goals, and make sure your business is transferred to the successor you choose, on a date you choose.
Here’s what SVA can help you with:
- Reviewing and establishing your unique goals
- Making sure your business will continue if something happens to you before your planned exit
- Increasing the value of your company so you reap a fair value for your life’s work
- Creating retirement and asset management strategies that give you the level of comfort you desire