What is Your Exit Strategy?

You must be thinking “why important to have business exit strategy for my assets”? Well, you should consider the facts, it is a part of reality that not all businesses survive and franky speaking more than 80% of new firms do not succeed in the first five years of business. This is one of the major reasons why planning an exit strategy is more necessary then ever when it comes to self managed super funds Australia accounts and employee incentives.

Exit planning basically refers to the work involved in exiting the business if things do not go according to plan (i.e. Bankruptcy, liquidation). The main goal is to ensure that your exit transition from the firm is as smooth as possible with miniscule or risk to yourself or the business which is ultimately the most essential asset that will assist you with your retirement plans.

So take the time to research and plan your exi plan as this is one of the most important tasks that you will undertake.

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