Exiting your business the right way


Most business owners who’ve worked hard to establish their business, want to see it continue to thrive after they leave.

A succession plan, or exit strategy, determines the best way to leave a business, whether that’s by sale, passing it onto other family members, introducing new management, or simply reducing your role in the business.

Succession planning should start early in the life of a business. You should consider the most appropriate business structure to use and an appropriate business name that can be sold with the business. Keep in mind the repercussions of using your personal name as the business name.

To know more: https://www.smallbusiness.wa.gov.au/blog/exiting-your-business-right-way

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