The Benefits of a Business Succession Agreement
May 20, 2016
A business succession agreement is your peace of mind that whatever happens to you or a partner, the business can keep ticking.
The assets of the business are protected, safeguarding your personal assets
- Asset protection can provide the business with enough cash to preserve its asset base so it can repay debts, free up cash flow and maintain its credit standing. It can also release personal guarantees secured by the business owner’s assets such as the family home.
- The revenue of the business is protected securing your bottom line
- Revenue protection can provide your business with enough money to compensate for the loss of revenue and costs of replacing a partner.
- The ownership of the business is protected preserving your company
- Ownership protection can provide the continuing partners with sufficient cash to fund the transfer of the outgoing partners equity back to the continuing partners.
A business continuity or a business contingency plan ensures that ownership changes in a business are clearly documented and funded. For more information please contact Michelle Roberts at BCV Financial Solutions
- Bachelor of Business
- Advanced Diploma of Financial Services (Financial Planning)
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Michelle Roberts is an Authorised Representative of Australian Unity Personal Financial Services Limited (AUFP) ABN 26 098 725 145, AFSL 234459. This is general advice only and does not take into account your personal objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice in light of your own circumstances. Past performance in not indicative of future performance.