Step Ahead - August 2016
Step Ahead, the business succession planning issue

Stay a Step Ahead!

This month’s issue is full of information about business succession planning. Research has found that 75% of Australian businesses do not have a well-developed exit plan.

Without a well-developed exit plan it is likely you will only obtain a portion of what your business is worth. To help you obtain what is rightfully yours we have provided a series of articles in this newsletter and are also running a seminar this Thursday 18th August. This is an event not to be missed by anyone who owns or is a partner in their own business. See below for details and to RSVP.

Have a wonderful day!

James McFall and the team at Yield.

Business Partnership Agreements

A partnership agreement is like an employment agreement or pre-nup between the partners. It is a framework for how the partners agree to work together and is intended to provide confidence and clarity to all partners now and in the future, including agreement on business succession. Having an agreement, goes some way to ensure that if something changes in the partnership relationship or if something occurs that could make agreement difficult down the track, then there should be little dispute or confusion.  

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What is exit planning?  

Have you started to ponder your retirement, picturing what life may look like after running a business? With a huge number of baby boomers reaching retirement age there is an increasing number of small to medium-sized enterprises considering future sale. It is more important than ever to start thinking about exit planning. But what does exit planning really mean — and where can you begin?  

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How to build value in your business

You may find it interesting that around two-thirds of business owners do not know the value of their business. It’s fascinating that many business owners will know the value of their home, but not the value of their business, which may well be their most valuable asset. And then if you don’t know what your business is worth its going to be hard to know how to increase its value!   

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Case Study: Business Partnership Insurance

We go behind the scenes into a real business partnership. Read this case study from Yield clients that shows how having the right insurance has helped their business.

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Join us at our complimentary Business succession planning seminar on Thursday 18 August

We would like to extend an invitation to our next seminar where we will be focusing on business succession planning. Greg Johnson is a thought leader on maximising business value and creating successful exit strategies for SME business owners. Greg is joining us on Thursday 18th of August and we're excited to hear about his mission is to educate business owners across the country about the importance of being 'sale ready'. Registration is free but spaces are limited and there has been a strong take up to date. RSVP now so you don't miss out.   Read more and RSVP

High fives

We love hearing that our advice has been appreciated. Check out what Tanja has had to say about us:

"We were so impressed with Prashant. He really does care about his clients. No questions are silly and he was great at explaining things in a way we could understand. We could tell it was important to him that we actually really understood our options and he kept us in the loop at every stage. The whole team at Yield were great too — always approachable, respectful and prompt."

- Tanja
Click here to find out what our other clients are saying.
Thursday 18 August
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