ASSISTING BUSINESS OWNERS TO MAxIMISE THE vALUE OF THEIR BUSINESS AND aChIeve a suCCessful exIt
www.successionplus.com.au
A MESSAGE FROM CRAIG WEST I’ve been a strategic accountant and adviser to small businesses for more than twenty years – and throughout that time I have identified a number of key steps that business owners can take to dramatically improve the financial performance of their businesses. One of these is ‘Business Succession and Exit Planning’, it is one of the most important yet most misunderstood financial strategies for any business owner. It relates directly to your ability as a business owner to extract the maximum amount of value from your business when it comes time for you to retire. Many business owners will invest decades in building a successful business, the next step is to ensure that your investment pays off and provides you with the financial rewards that you set out in business to achieve. I believe that there are 21 key steps involved in effective succession planning which identify and cover off the vital points in this complex process. However, there is no ‘one size fits all’ solution. Your Business Succession and Exit Plan must be developed specifically for the needs of your business and financial objectives. Our business is entirely focused on designing and implementing successful exit strategies which achieve the owners goals, release them from the business they have been so heavily invested in (in blood, sweat and tears) and provide the financial reward they deserve, in what for many is their greatest asset, but often the most difficult to unlock. Our national partnership, is a team of highly skilled experts (6 of the 11 qualified exit planners in Australia work with Succession Plus), who bring a wealth of experience and passion to helping you achieve your Business Succession and Exit Plan. Kind regards
CraIg West CEO & FOundEr
CPA, M. Tax Law, M. Bus (Acct/Finance), B. Bus (Mgmt), CEPA
OUR PRODUCT We have a five stage approach to business succession and exit planning – all focused around value:
1 IdentIfy 2 ProteCt 3 MaxIMIse 4 extraCt 5 Manage value value value value value During these five stages we are able to introduce various business models and tools that will greatly increase the ability of the owner to build and successfully extract more wealth from the business to fund retirement.
business valuation – how much is my business worth?
strategic advisory – how do I create a finely tuned machine?
very few business owners know the actual value of their business and more importantly how that value is really determined – this is a key aspect of exit planning – what are the key value drivers of your business?
Over time we develop highly efficient factories for business owners to reduce risk, increase performance and ultimately increase the value of the business – either for the existing owner or for a potential buyer.
ESOP – How do I get my employees to think and act like business owners? An employee share ownership plan is a great way to engage employees by utilising a profit share plan to fund equity ownership by employees – ESOP companies have improved performance, higher profits and better staff retention than other businesses – imagine if you could get your employees to really think and act like business owners!
Capital Gains Tax – Any business exit involves tax and CGT is a complicated issue! It is too late to worry about CGT once you sell your business, but with proactive planning this can be managed and the tax payable minimised. don’t pay too much of your hard earned equity value in tax!
Exit Planning – How do I get maximum value for my business on exit?
Ownership Thinking – Create an engaged and empowered culture focused on improved performance
We employ 9 strategies to ensure every business we work with achieves the highest possible value – growth, acquisition, systems, employee retention, and strategic exit planning all contribute to maximise the value.
Ownership Thinking is dedicated to unleashing the potential of SME’s by providing the training and tools required to develop a workforce of “ownership thinkers” who become active participants in their company’s financial success.
“I have no doubt we have had a far more successful succession planning experience, and realised a greater sale value through our involvement with Succession Plus and would highly recommend them.” Phil dash CEO, Clearwater Filter Systems
ABOUT SUCCESSION PLUS succession Plus is entirely focused on assisting business owners to design and implement a strategy to maximise the value of their business and achieve a successful exit. We have spent the last seven years working with business owners to assist them in selling, listing, implementing an employee share plan, passing on the business to family members or simply making the business easier / less stressful and lower risk for them to manage.
OUR OUTCOMES Industry research from Bizexchange shows that the average sales price for SME’s in Australia is approximately 2 times earnings for businesses below $5m in value and around 3 times for larger businesses. Succession Plus have a sales average of 4.6 times earnings over the last 5 years and have sold several businesses at 8 and 9 times earnings – substantially increasing the owners wealth. Our solution is based on a thorough review and assessment, accompanied by a detailed project plan and timeline to maximise value using our unique 21 step exit planning process.
ASSISTING BUSINESS OWNERS TO MAxIMISE THE vALUE OF THEIR BUSINESS AND aChIeve a suCCessful exIt
www.successionplus.com.au
OUR PEOPLE
Craig West
linda sirol
greg Johnson
M.Tax Law, M. Bus (Acct/Fin), B.Bus (Mgmt), CPA, CEPA
GAICD, B. Eng (Civil), CEPA
B.Bus (Acct), CPA, CEPA
PARTNER - SYDNEY
PARTNER - SYDNEY
PARTNER – MELBOURNE
In her role as a trusted advisor, Linda gives business owners the guidance, support and direction they need to build a more valuable business, and to achieve their vision of growth, succession or exit.
Greg Johnson has over 20 years experience as a senior financial professional with extensive people management skills gained in NGO, public service and publicly listed Australian organisations.
James o’brien
Wayne Mandic
Catherine Resnick
B.Com, EMBA, CPA
B.Bus (Acct), CPA, CEPA
Dip. Grad Dip A. Psychth, MPACAWA, ARCAP
Craig West is a strategic accountant who has built a specialised advisory practice focused on small business owners to help them face the four key strategic issues that SMEs face as they grow.
PARTNER – MELBOURNE
James O’Brien is a strategic advisor with more than 20 years progressive leadership and change management experience across a variety of industries.
PARTNER - PERTH
Wayne Mandic is an expert business consultant, coach and succession/exit planning strategist with 30 years of diverse business experience.
there are only 11 certified exit planning advisers in australia – 6 of them are with succession Plus and our business is widely regarded as the largest advisory practice for exit planning
PARTNER - PERTH
Offering an unusual combination of astute psychological insight and business acumen. Catherine is known for her capacity to be innovative and her ability to keep organisations at the forefront of their respective industries.
22/11/12 10:59 AM
1300 665 473
p e admin@successionplus.com.au w successionplus.com.au facebook.com/successionplusaustralia twitter.com/SuccessionPlus linkedin.com/in/craigwest sydney Level 3, 50 York Street Sydney NSW 2000 Melbourne Level 1, 1 Queen Street Melbourne vIC 3000 Perth 68 South Terrace South Perth WA 6151