Succession planning; what does exiting your business mean?

- 19/04/20180

Succession planning Succession planning for business owners is critical. When most business owners think of an exit plan, they think of selling the business. This act of selling the business and exiting or leaving the business is also called ownership succession. In order to ensure this process is done to the level

Hire staff for your business – How do I decide?

- 04/04/201804/04/20180

Hire staff for your business I was away recently and was speaking to a sole business owner who asked me the question, "how do I know I am ready to hire staff members"? It struck me that this is a problem that many small businesses have and wondered what might be helpful

Selling a business – How understanding your “why” is the start of planning your exit?

- 08/02/20180

Selling a business - planning starts with the "why" in mind

Selling a business - planning starts with knowledge of your "why" Selling a business is the best way to exit your business and the planning starts years before. As a business owner, you need to begin a learning journey. The more educated you are, the better your plan and the better the

Buying a business – Start with the end in mind

- 19/01/20180

Buying a business with the end in mind During my discussions with clients interested in buying a business, the question I am often asked is “When should I start planning for the exit of my business?” If you understand these seven simple truths in this section, then it is logical the preparation of

Buying business – personal expectations when selling a business

- 19/12/201719/12/20170

Buying business - personal expectations of selling a business

Buying business - where to next? Before deciding on the best way to exit a business, it is important to consider the reasons for this transition. Some people will retire, some will take an extended holiday and some will re-enter the workforce as an employee. Others will buy another business or

Buying Business – How to Create A Valuable Business

- 23/11/20170

Buying Business - why and what makes a business attractive The primary reason someone people are buying business is to get a return on the investment. Each potential acquisition will be judged on the level of future profits the buyer believes the business can generate, the level of risk attached to

Buying Business – What you should know before selling your business

- 09/11/201709/11/20170

Selling your business - Characters of business owners shaking hands while man moves the value in the cloud.

Selling your Business When thinking about buying a business it is also important to think about an exit plan or selling your business. A good starting point when preparing an exit plan is to understand how much your business is worth. This could be a formal or informal valuation. You may wish

Homeowners claiming tax deductions for rentals increasing

- 09/11/201709/11/20170

Homeowners - Tax depreciation increasing from room for rent

Increasing tax deductions for homeowners The percentage of homeowners claiming tax depreciation on plant and equipment has increased in the past financial year due to owners turning their homes into rental properties. The growth of homeowners renting rooms, using the share accommodation portals such as Airbnb or choosing to rent instead of

Townsville property market showing signs of shallow recovery

- 08/11/20170

Townsville Property - Townsville City property market update October 2017

Townsville Property Market Update The Townsville property market is showing signs of a recovery on the back of significant infrastructure and construction investment from government and private enterprise. Dancing from the bottom of the market to its current position that is showing signs of a recovery, which has occurred many times over

Buying Business – What to consider with fixtures and chattels

- 12/10/201712/10/20170

Buying Business - TREN eMagazine - Quaint business village displaying fixtures and chattels to think about before signing contract to purchase

Buying business with fixtures and chattels When buying business and thinking about chattels, one may think of such things as moveable personal property such as clothes, furniture, and appliances as opposed to more permanent fixtures such as homes and buildings. https://townsvillerealestatenews.com.au/buying-business-fixtures-chattels/ Common Law Fixtures and chattels refer to the things that are included in