Family Business Advice
You’ve dedicated years to building a successful business with the potential to create significant wealth for you and your family, now and in the future. But it takes careful planning to make the most of that potential and unlock the value you’ve worked so hard to create.
We work with family business owners to assist them to invest the income produced by the business and plan ahead to maximise the business value in the future. We also work closely with the families other key professional advisers (ie: accountant, lawyer etc) to ensure a co-ordinated outcome for the family.
Here are some of the ways we can help you realise your potential:
The business structure you choose determines how you can distribute profits to partners and family members, how much tax you pay, and your level of personal exposure to debts and other business liabilities. It also determines your options when you want to leave your business and transfer ownership to a new team. We can help you identify and create the optimal business structure, with a holistic plan for your business and personal finances.
Family Business succession planning
When the time comes to leave your business, it takes careful planning to maximise the value of your investment and ensure a smooth transition. You also need to consider how you would fund a buyout if you or a business partner needed to leave the business unexpectedly due to ill health or even death. We can help you establish a robust and well-funded succession plan for today, then explore paths for unlocking wealth in the future — from a private equity investment to an Initial Public Offering.
Key person insurance
Without the unique skills that your business partners, family members and key employees bring to the table, you could struggle to maintain revenues, meet overheads and cover business debts. Key person insurance can provide vital protection for you and your business, as well as providing funds for a buyout if you or a partner becomes incapacitated or dies unexpectedly.
Asset protection insurance
Asset protection can provide your business with enough cash to preserve its asset base so it can repay debts, free up cash flow and maintain its credit standing if a business owner, family member or loan guarantor dies or becomes disabled. It can also release personal guarantees secured by the business owner’s assets
- Revenue protection can provide your business with cash to compensate for the loss of revenue and costs of replacing a key employee or business owner should they die or become disabled.
- Ownership protection can provide the continuing owners, or their nominees, with sufficient cash for the transfer of the outgoing owner’s equity to the continuing owners, should a business owner die, become disabled, or suffer a critical illness.
Other Family Business advice
We understand that owning and operating a Family business can present some unique challenges. We can assist you work with family members to address some of these challenges by providing services in Family meeting facilitation and the development of Family constitutions.
By engaging us as your Family business adviser, you will receive valuable support in your business from experienced business owners who have a long history of owning and running businesses.