Exit your business
If you are leaving or thinking about leaving your business, there are a number of things you need to prepare for. The information here is general advice, for tailored advice about exiting your business seek professional legal, taxation and financial advice.
- Succession planning
- Selling your business
- Closing your business
Succession planning is something that you should look at well before you are ready to leave your business. Succession planning involves setting up the processes and sometimes even the timing of your exit from your business. A good succession plan will help to set up a smooth transition for your business, and will help maximise the value you get from your business.
To find out more see Business Australia's How to develop your succession plan page .
Selling your business
Deciding how much your business is worth is the main issue you will need to deal with if you decide to sell. Other issues you will need to consider include how and when to sell your business. You also need to be aware of the taxation impacts of the sale of your business.
To find out more visit Business Australia's How to sell your business page .
Closing your business
There are a range of different approaches to closing a business, and different issues need to be dealt with depending on the circumstances for closing your business.
To find out more refer to Business Australia's How to close your business page .