Building A Business That You Can Sell

Businesses are sold for many different reasons. Perhaps your business is your retirement nest egg, or you are in transition to a new location or career.

If you are considering building value in your business or selling your business, it is important to know how to build the worth of your company and this will help develop an effective exit strategy. Below is a list of some key factors to help you focus on you achieving your end goal.
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Take Control of Your Future

When it comes to a building a career there is no one right or wrong way to do things. Just because one path was successful for someone else does not mean that it will be the path that you choose to create success and take charge of your own future.

Begin thinking about ways that you can positively influence your career if you truly want to progress and grow as a person.
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Employee Perks

Historically you had to be at the top of the tree to get access to perks in the workplace.  These days when interviewing a junior, applicants want to know if we provide gym membership and whether we offer flexible working hours.

Salary is no longer the most important factor. When it comes to attracting staff only 20% of candidates list their salary as the most important issue when considering a job offer.
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Create a Business Succession Strategy

 

In any business there are risks involved and business risks come in many forms from many sources. Risks range from some of the most basic aspects including creditor risk to public liability risk, through to more complex risks associated with the preservation of the business as a going concern for the protection of its owners’ equity.

One of the most impactful and easily resolved risks is a lack of a business succession strategy or plan.
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The SMSF Bubble

Mark Twain said “There are three kinds of lies: lies, damned lies and statistics”. Were Mark Twain around today, he may have added opinion polls to the mix.

One opinion poll in particular examines the idea that Self-Managed Super Funds (SMSFs) are responsible for driving the Australian Property bubble.
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Pay (Super) Some Attention

Last year’s Federal Budget announced, yet again, that there would be changes to superannuation. These changes are not due to take effect until July 2017, by which time most will have probably forgotten the changes and the impact of these on individuals.

One of the major concerns of the Australian Government and other financial institutions is the significant lack of engagement and attention that the average Australian has with their superannuation.
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Interest Rate Announcement – February 2017

The Reserve Bank of Australia (RBA) has decided to leave the interest rates unchanged at 1.5% at the end of the first monetary policy meeting for 2017.

This outcome was widely expected by economists and markets alike. There was no indication by the RBA that interest rates would change in the foreseeable future, this being consistent with sustainable growth in the economy.
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