Succession: Achieving Clarity in Direction
Circumstances / Situation
Multiple advisers had worked with this company’s shareholders on different succession issues for over a decade. Progress had stalled. The business had just exited a shareholder and was not sure what to do next.
Solution
We spent time with all Shareholders to understand what everyone wanted and then worked with them to put a plan in place. It was important that each person understood where they and the business stood financially before and after the succession. This included covering off on modelling the financial outcomes for everyone, including proposed new shareholders, QBCC MFR outcomes, taxation and superannuation outcomes. We also facilitated the strategic planning required as well as the review and completion of legal documentation.
Outcome
The shareholders and business are clear on where they are going. There are no surprises and everyone is invested in the process. These activities continue today.
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