Exit Strategy and Why You Need it

You may be thinking “why important to include business exit strategy for the business”? Well, you should consider the facts, it is a well-known fact that not all businesses survive and statistically speaking more than 80% of new firms quit in the first five years of business. This is one of the foremost reasons why planning business exit plan is more necessary then ever when it comes to self managed super funds Australia accounts and employee incentives.

Exit planning basically refers to the processes involved in exiting the business if the organisation is headed towards closing down (i.e. Bankruptcy, selling due to personal crisis). The idea is to ensure your exit phase from the firm is as hasslefree as possible with minimal damage or risk to yourself or the business which is ultimately the most important asset that will assist you with your retirement plans.

Time some time to research and strategise your business exit plan as this is a necessary tasks that you will conduct.

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