A recent survey of 181 SME owners in Australia and New Zealand showed that only 35% had enough income and assets outside their business to fund retirement, or their next venture.
For the majority, the business is their main asset. Maximising the value of that business and eventually selling part or all of the business is key to their future plans.
But many SME owners have a ‘value gap’ – the difference between what their business is worth today and what it needs to be worth to achieve financial independence.
If you want to understand and grow the value of your business, we provide ongoing support which can be tailored to your goals, and your budget.
We use industry valuation benchmarks to pin point areas where you can improve your business value. With ‘what if’ and ‘revaluation’ analysis technology we can create a plan for you to get to (or exceed) your desired business value.
The other important tool once we have determined your “Business Value Gap” is to help you build a Business Life Plan.
This plan assists you to co-ordinate your life and family goals with your Business performance. We Consider:
- Lifestyle Needs
- Estate Planning
- Partner and Family aspirations
- Health and Stress
- Business Value
- Business Risk
All of these areas are critical and require planning and action in order to manage the future as much as is possible.
For more information on understanding your “Business Value Gap” and developing a “Business Life Plan” contact your Davidsons Business Advisory Team at firstname.lastname@example.org
Disclaimer: this information is of a general nature and should not be viewed as representing financial advice. Users of this information are encouraged to seek further advice if they are unclear as to the meaning of anything contained in this article. Davidsons accepts no responsibility for any loss suffered as a result of any party using or relying on this article.