Owning and running your own business is an exciting experience. You as entrepreneur need to focus on what you do best – your business. We can help! We can bring a properly delineated legal structure that will ensure that you are not worried about anything but your main goal – your business. We will help you structure your business with the most tax-advantageous infrastructure in mind.
One important, but often overlooked, responsibility of business owners is succession planning. Since your business likely employs people, provides work for vendors and contractors, and does much more, you want to make sure that it will continue to operate successfully after you exit the business, start another enterprise, related or unrelated to the first one, get a divorce,have children or new partners join you in your business. While many people think that this type of planning can wait until they are within a year or two of wanting to retire, that is not the case. It is impossible to foresee if you will become sick, experience an accident, or have some other event happen that forces you to stop working.
Growth of your business may happen “overnight” and you need to ensure that you are not caught off guard without the best structure in place. Therefore succession planning should be started early in your business and continued throughout your time with the company. Businesses grow and evolve, they change direction and strategy. Your business plan must follow closely.