Business Structuring & Succession Planning

Business structures are such an important component to consider when both starting a business or if your business is going through a period of change. The structure of your business can affect a number of key areas for both you and your organisation, including tax, asset protection, ongoing costs and compliance.

It’s important to understand how your structure will support your business and why it’s a suitable option for you right now. Structures such as trusts, partnerships and companies can be complex to set up, so we do recommend having your accountant or business adviser set this up to ensure everything is set up in the right way to protect you.

It is natural for business owners to want their business to exist beyond their working life, particularly when it comes to a family business. Succession planning is extremely valuable in ensuring your business continues on, by having potential successors and an exit strategy in place that will give the business longevity and you peace of mind.

It is much easier to start planning for your succession early, both to prepare the business for life after you and to secure your own future. BLG’s team know how to carefully guide business owners through succession situations, and we’ll assist you with everything from up-skilling people, to the business valuation process, smooth exit strategies and more.