Why should Business Owners
plan their “exit”
Sooner or later, every owner leaves his or her business. Whether you anticipate selling the company to a third party, transitioning to employee ownership, or a family succession, every strategy results in your eventual exit. The complexities of tax law, combined with the expectations of buyers of any type, lend themselves to careful structuring of a transfer. For most owners, transfer of ownership represents the biggest single financial transaction of their lifetime. In our experience, no owner has ever said, “I spent too much time planning.”
Why should Business Owners
plan their “exit”
Sooner or later, every owner leaves his or her business. Whether you anticipate selling the company to a third party, transitioning to employee ownership, or a family succession, every strategy results in your eventual exit. The complexities of tax law, combined with the expectations of buyers of any type, lend themselves to careful structuring of a transfer. For most owners, transfer of ownership represents the biggest single financial transaction of their lifetime. In our experience, no owner has ever said, “I spent too much time planning.”
Why Start Now?
There are two good reasons to begin the planning process, even for those who believe they are ten or more years from their eventual exit
- Many tax reduction strategies, such as business structure conversions, certain trusts and others, take years to fully implement.
- Once you know your exit objective, it will influence all of your business decisions. For example, hiring managers who will work for the next owner is a very different approach from training your future successors.
There are two good reasons to begin the planning process, even for those who believe they are ten or more years from their eventual exit
- Many tax reduction strategies, such as business structure conversions, certain trusts and others, take years to fully implement.
- Once you know your exit objective, it will influence all of your business decisions. For example, hiring managers who will work for the next owner is a very different approach from training your future successors.
Fatal error: Uncaught Error: Class 'Elementor\Scheme_Typography' not found in /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/rselements/widgets/faq/rs-faq.php:231 Stack trace: #0 /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/elementor/includes/base/controls-stack.php(2324): Rsaddon_Elementor_pro_Faq_Widget->_register_controls() #1 /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/elementor/includes/base/widget-base.php(1039): Elementor\Controls_Stack->init_controls() #2 /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/elementor/includes/base/controls-stack.php(509): Elementor\Widget_Base->init_controls() #3 /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/elementor/includes/base/widget-base.php(177): Elementor\Controls_Stack->get_stack() #4 /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/elementor/includes/base/controls-stack.php(313): Elementor\Widget_Base->get_stack() in /home/customer/www/endgameconsultingkc.com/public_html/wp-content/plugins/rselements/widgets/faq/rs-faq.php on line 231