What are the risks?
In our experience, many people start businesses to either create a legacy or as an ‘engine’ to maintain their current lifestyle, either while they are working or in retirement. While you’re planning the future success of your business, ask yourself the following questions:
- Is your business the engine for your current lifestyle?
- Do you wish to create a legacy for future generations?
- Have you considered your exit strategy and any tax implications?
- What would be the impact to your business if you lost a key person or stakeholder?
- Have you considered any other possible threats that could affect your plans?
We help our clients understand the real value of their business – what they have created and how best to ensure future growth. As well as advising on tax-saving, employee benefit schemes, including pensions, we can work alongside you to create suitable exit strategies.