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Succession and exit planning

Plan for what you want to do after your business

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How to plan your exit and succession from your business

Start succession planning well ahead of time. Whether you're planing retirement or your next endeavour, a diligent exit strategy is the key to making the most of your business's value.

Planning and advice
Preparing systems and processes
Business advice
Personal financial advice
Get ready for the next step, whatever it happens to be. Let's plan your succession and exit strategy.
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It's time to be rewarded for all your hard work

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A wealth of experience

We have over 40 years of experience helping business owners with their exit strategy and succession planning. Make the most of all your hard work.

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Capable and qualified

Succession planning is one part of achieving financial freedom. We can help you with a range of other services, including financial advice, to build your personal wealth.

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Systems and processes

Planning your exit strategy and succession for your business isn't easy. You need to set up systems and processes so it can run without you. We'll help you get it right.

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Long-term client partnerships

We build long-term partnerships with all our clients, and succession planning is something we think about from the early stages. It's the culmination of all our hard work together.

About our exit strategy and succession planning team

Your exit strategy and succession planning is something you need to start doing early. In some cases, it might take months or years to get your business ready for you to move on from it.

Our team will help you consider all the factors and advise you on how to implement effective systems. The right advice will help you make the most of the years of hard work.

Kieran Liston, Director | Adviser

Meet the team

We have worked with Liston Newton Advisory for over a decade. During that time, our business has grown substantially both organically and through purchases. This wouldn’t have been possible without Liston Newton Advisory to assist with our business planning, providing proactive advice and ensuring our accounts were always compliant in a complex and volatile industry.
Karsten Horne
CEO, Reho Travel
Liston Newton Advisory analysed our financial and business situation and helped us implement strategies to improve our position. Their strategies turned our business from making a loss, to recording a 6-month net profit of 36 per cent. And we are now on track to show a 240 per cent increase in turnover over the next financial year.
Lisa Clarke
SL Constructions
Liston Newton Advisory helped us move our accounting over to Xero. They managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.
Peter Luskan
Pandora

Our method for your success

We have developed a unique, holistic approach to our services, called Get Set, Get Moving, Get Free. It informs the way we work with all our clients.

Our approach is designed to help you reach financial freedom. Exit strategy and succession planning are part of the final phase of reaching your goals, and we start planning for it from the very beginning.

Achieve financial freedom
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Experienced and qualified

Succession planning is complex, trust an accountant with the right qualifications and experience.

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It's time for all your hard work to pay off

Find out what financial freedom feels like.

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Frequently asked questions

How do I sell my business, and when should I start planning to sell my business?

Selling a business takes time if you want to maximise the price. While some people plan their exit strategy from day one, you take at least 12 months to prepare.

Your business will be more attractive and more valuable to buyers if you make it easy for them to take over. If your business can run when you're not there, then it will be easier for a prospective buyer to receive the income you are promising from the business.

Once the business is ready for sale, approach a business broker who specialises in selling businesses in your industry. They will assist in making your business more attractive to buyers.

How do I determine what my business is worth?

This is always a difficult question, and the answer depends on how risky a business is.

For example, a business such as ladies fashion will normally only seek one times its net profit because it is risky; seasonal conditions or choosing the wrong labels can decimate sales. On the other hand, a business that has consistently produced profits over five to 10 years, and has excellent systems in place might sell for five times its net profits.

The most common multiple of profit is three times net profit. Generally speaking, buyers will pay more to get a business that regularly produces good profits.

How do I bring in an employee in as an owner?

Whether it's part of your succession planning or to keep employees motivated, there are several ways to bring an employee in as an owner, including:

  • They can pay cash for the shares
  • They can borrow from the company or owner to pay for the shares
  • You can gift them the shares
  • You can offer the shares at a discounted rate

There are different tax consequences for each of these scenarios which you need to examine carefully. You should also consider questions such as whether they will be an ordinary class of shareholder or a non-voting shareholder. The best option will depend on what you are trying to achieve.

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