Succession Planning

At iMaster  we have been practicing Succession Planning with our clients for some years, but we recognise that there can be several different approaches to the topic. We wanted to ensure that we are all following a structured, co-ordinated process, and adding value during each step...hence Business Evolution.

According to research, over 40% of business owners are looking for an exit strategy in the next 5 years, but only a small fraction have formal plans for how they are going to achieve that goal. Given it can take 3 to 5 years to develop a comprehensive plan and groom your business, it is vital to start the Business Evolution process as soon as possible.

Business Evolution is about building, retaining and passing on your wealth from generation to generation. It involves recognising and dealing with many complex family, individual and business issues such as clarifying your goals, management succession, estate planning, taxation and wealth management. Working through the Business Evolution process may point to realising the best possible value for your business, but this depends on your individual needs and circumstances and can be determined once your goals have been established.

Generational change within any business is an inevitable and irresistible force. It is vital that it be given early and appropriate attention if the wealth within the company is to be preserved. iMaster understands the implications of such change on businesses. We have guided many clients through this journey, providing practical and honest advice based on our considerable experience and specialised knowledge. Our focus is always on helping our clients to identify, clarify and achieve outcomes that best suit their own unique circumstances.

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