“The average age of Australian business owners (at 47 years), is above the average age of the broader workforce (40 years) …” - Page 22, “Business Set-up, Transfer and Closure”, Productivity Commission Inquiry Report, No. 75 – 30th September, issued on 7th December 2015
“ … Only 21% of businesses have a documented ownership transfer or sale plan” - Page 22, KPMG and Family Business Australia – Family Business Survey 2015
Succession planning is looming as a major issue for business owners now and in the coming decade. The overall lack of preparedness of these owners is concerning and will have an impact on their future financial well being and the value to be realised from their business when they are ready to retire.
One of the key stakeholders in the successful realisation of a succession plan is your financier.
Quadrant Advisory will work with you to: