If you intend to sell the business, you will want to maximise value well in advance of the sale so that you have several years of strong accounts to show a potential purchaser.
When developing your plan, it is important to discuss the tax implications with your accountant as different strategies can have very different tax consequences. A good plan will optimise your operations and maximise the future benefits for your family, your business and yourself.
Whatever your plan for the future, it’s essential to communicate it to everyone involved.
Finally, remember to review the plan regularly as your business evolves.
FPM organises regular events for family-owned businesses. If you would like an invitation to our next event…