Safeguarding your Business
If you are a New Zealand business owner, you’ll know that you and your partner(s) have worked countless hours developing and nurturing your business. You’ll have seen it grow from an idea into a valuable concern which relies on you and your key-people to be successful.
You know that it is important for you and your partners to be in the business but what would happen if that weren’t possible?
- What happens in the event that a key shareholder dies, becomes disabled, retires or resigns?
- Could your business survive?
- Who will take his/her place and will the other shareholders want to work with the successor?
- Will the business be sold and how much is it worth?
- What would happen to the shareholding of the person leaving the company?
- Does the business have sufficient funds to operate or to enable the changes that need to be implemented? What outstanding debts might be called-in during this period?
Having answers to these questions is critical if your business is to survive, which is precisely what a Succession Plan or Business Will does.
Without a succession plan, small business owners can work their entire life building a valuable business yet are only able to capture a fraction of that value in the event of a shareholder death, disability, retirement or resignation.
Don’t take the chance of trying to sort out these questions after the fact. Fill out the form below to learn about LIFE-TIME Financial’s free Business Succession Plan offer.
Free Business Succession Advice