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Don't sell your business short

Learn how to maximise the future value of your business.

Business Succession workshops are held on a demand driven basis. To register your interest or find out about the next workshop, call 1800 012 501 or email us on businessseminars@westpac.com.au.

Business Succession workshop

Selling, handing over or even closing your business is a decision not to be taken lightly. Many competing factors - emotional, financial, and historical - can come into play. That's why it's crucial to be as fully and objectively informed as possible. But more importantly, by planning succession early you could substantially increase or even multiply the potential value of your business.

The day-long Business Succession workshop is designed and structured specifically for small and medium-size business owners. It provides participants with advice on valuing their business and how to put a succession plan in place. In a practical, hands-on learning environment, our expert presenters will cover the following topics:

• Setting goals and objectives
  
  
• Valuing your business
  
  
• What risks are there to your business
  
  
• The options for your business
  
  
• Planning to sell your business
  
  
• Planning to close your business
  
  
• Putting your plan into action
  
  

Setting goals and objectives

• Defining personal ambitions
• How much money will you need in order to live comfortably when you leave your business?
• Strategies to reduce capital

Before you have a plan, you need a goal. This section of the workshop focuses on your personal ambitions and what you will need from your business to achieve them. We'll take a look at budgeting and you'll also find out how much you need to do the things you want when you leave your business.

Valuing your business

• How to value your business
• What drives value?

We'll help you assess your assets and liabilities to find out your starting point – how much capital you currently have – and then set out the key steps to valuing your business.

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What risks are there to your business?

• Identify the source(s) of risk that may affect cash flow and the value of your business
• Investigate how to minimise risk

We all hope it will never happen to us – a fire, loss of a key person to the business or litigation. This section of the workshop focuses on how to assess what effect these types of risk may have on your business' cash flow and ultimately the value of your business.

The options for your business

• Planning to hand over your business:
• Deciding who succeeds you
• Separating family and business issues
• Organising suitable training
• The process of transferring ownership

Handing over the business may sound simple, but there are a number of issues that can affect the smooth transfer of ownership. This section gives you the tools to keep the family happy and the business healthy.

Planning to sell your business

• Picking a date
• Sale check lists
• Knowing your buyer
• The keys steps to consider when negotiating

Perhaps the most complex scenario to plan, this section will take you through the whole process from attracting a buyer to making your business more profitable. Plus there are essential tips on negotiating the sale.

Planning to close your business

• Picking a date
• Informing the right people
• Getting the paperwork right

Everything you need to know about closing your business - from the difference a closing date can make, to who to inform when, to what paperwork you need to complete.

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Putting your plan into action
When you walk away from the Business Succession Workshop, you'll not only have the knowledge to help you make clearer decisions, you'll have everything you need to start your succession plan.

Cost
The cost to attend is $495 (including GST) per module.
We accept MasterCard, Visa and American Express.

Register your Interest

Business Succession workshops are held on a demand driven basis. To register your interest or find out about the next workshop, call 1800 012 501 or email us on businessseminars@westpac.com.au.

View our list of workshops.