Menu
Facebook icon Twitter icon LinkedIn icon Google plus icon YouTube Icon rss blog icon

Developing your exit plan

If there's one thing you can be certain of as a business owner, it's that at some point in the future you will transfer your business interests.

There are primarily four ways in which this will happen:

  • Transferring business ownership to your children
  • Selling the business to a partner or employee
  • Selling to a third party
  • Liquidating
Sign showing the exit direction

Planning your exit strategy will pay huge dividends both from a tax perspective and for the ultimate sale price that you could achieve.

To kick start this process, there are a number of important questions to consider including:

  • What are your ultimate goals and when would I like to exit my business?
  • If you're selling to retire, how much money do you need to enjoy the lifestyle you aspire to?
  • How valuable is your business now and what can you do to increase its value? 

 

If you haven't got a plan in place, don't worry you're not alone. Almost 40% of SME business owners have this as one of their most pressing unresolved issues for their business, according to a recent survey.

Taggart & Partners can help you with all aspects of the exit planning process such as:

For many people, a profitable exit represents a lifetime achievement and the opportunity to reap the rewards of many years of hard work. Contact us today on 07 3391 1188 to make sure you give yourself the best chance of optimising the value of your business and achieving all your personal goals.


Resources

Calculator icon
Calculators
calendar icon for key dates
Key Dates
Computer icon for useful links
Useful Links
Tick icon for tax facts
Tax facts

What our clients say...

As directors of Vision 1 Investments we have been clients of Taggart & Partners for the past seven years. In this time we have found Taggart & Partners to be more than your average accounting practice.

Adam and Terese Biermann, Vision 1 investments Pty Ltd

Our phone calls, emails and questions never go unanswered – it is exemplary. Not only do Taggart & Partners come back with professional, well researched and thought through answers, but they do it with a friendly approach - your business matters to them.

Damian Kelly, Group General Manager, Brisbane Refrigeration Pty Ltd

Taggart & Partners have been my business and personal accountants for over 7 years. The support and service that they have offered to me has been crucial to the successful running of my business.

Stephanie Canfell, The Bowery

Taggart & Partners have been our accountants for the past four and a half years. Over the time we have found their service, advice and planning to be second to none.

Raymond Sackett & Justin Kennon, The Kennon & Sackett Group

Puss 'n' Pooch Day Spa has been receiving accountancy and tax advice from Taggart & Partners from day one. Nine years on we are still going strong. Ray and Suzanne Taggart are fantastic business-minded people and love to see their clients enjoy success.

Kelli Smith, Puss 'n' Pooch Day Spa