Proper business planning is essential to the long term success of your company. Whether you are a new business or an existing business going through transition, I can help guide you through planning and preparing for your future. I assist clients in the initial set up and structuring of their entities, succession planning, asset protection, and organizing for growth.
Regardless of the size of your business, planning for your company’s future will prepare you for subsequent growth and transitional phases. My goal is to ensure that there is a smooth transition between current operations and the future of the business.
New Businesses – Planning for Future Growth
Starting a new business can be an exciting time. It can also be difficult to navigate the plethora of paperwork required to register, license, and set up your business. Choosing what type of company to form, from an LLC to an S-Corporation can make a difference in the growth pattern and liability you will face in the future. Business planning can become particularly complicated in cases of family businesses due to the emotions and familial relationships involved.
Business Planning for Established Businesses
Established businesses have specialized needs when it comes to tax planning, growth management, and ownership. We can help established businesses navigate transitional phases, weather financial difficulties, and manage equity partners. Structuring your growth can make a significant difference in your future tax burden and government requirements. Established businesses also need to plan for situations where the business owner may not be able to care for the business or where the business may fall on financial difficulties. We can help you answer those difficult questions now, before something happens, and help you avoid difficulties down the line.
Far too often, business owners treat business planning as an afterthought. They simply do not prepare themselves or their companies sufficiently enough to ensure that whenever they exit the business and for whatever reason, they are able to do so with the peace of mind in knowing their business is fully protected for its maximum potential value. Studies show that as many as 70% of all family-owned businesses are not able to survive the critical transition from the founder of the business to the next generation. Family discord and taxes can both destroy what was once a thriving family business.
Whether you are just starting up a business or have a well-established business, planning to protect the financial future and management of your company should be a priority.