How To Plan Your

Exit Strategy Paul Martin Chartered Accountant Ltd

Starting a business can be an

exciting part of your life. From

business planning, execution, to

actual operation. But one day it

will come to an end - you will need

to retire and appoint someone to

take the business, or close it down

for good.

Paul Martin

Chartered

Accountant

As trusted business advisors in

Auckland, we help clients to create

exit strategies for their businesses.

Here are some of the things that you

need to consider when planning an

exit strategy:

Exit Strategy Tips

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Future funding

Just like your retirement plan, you should also set

aside enough funding for your business after you

are gone. If you own a big company, you should

consider the hundreds of people that you

employ. You can't just leave them behind if you

decide to step down or close the business. But if

you are a solopreneur, it is okay, since you only

have yourself to consider.

Step 1

We assess the status of your

finances and make necessary

recommendations based on

your business goals. From here,

we can map out your exit

strategy.

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Successors

Part of your exit strategy is finding the right

successor. If you have a family-owned business,

you may plan to turn the business over to your

children or another member of the family. On the

other hand, you can also entrust your business to

a valued employee or to someone you can rely

on.

Step 2

We encourage our clients to

create a list of their possible

successors. In the event that

they need to step down from

their business, they have a

ready list to choose from.

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Documentation

You need written documents of all the things that

you want to do with your business. These written

documents will be used for legal proceedings in

case you pass away unexpectedly. They will also

be used to present to any investors.

Step 3

As the exit day nears, your lawyer

will go over the document and

discuss it with the people

concerned. They will also prepare

everything to legally transfer the

business to your successor.

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Exit StrategyPlanning your exit strategy is very important. You just don't leave your business behind. You

don't leave all your hard work and let it disappear. You should want to give it to someone who

is deserving and who will continue what you have started.

If you need help on what to do,

and want to start your

succession planning, we can

help you.

www.pmartinca.com

Contact usLevel 1 The Lane, Botany Town Centre, 588 Chapel Road, East Tamaki, Auckland 2013

(09) 576 4166

www.pmartinca.com