Maximise your organisational capabilities

A business is analogous and tantamount to birthing and raising a child.

All businesses will go through similar phases, typically a start-up venture that morphs and evolves into a “real business” with employees, premises, customers / clients and eventually the business grows into adolescence when it is no longer in survival mode but actually can pay its own way.

The next step in the adventure is when the business can exist without the founders, this is when business succession planning is critical. There are many famous family businesses. E.g. The Oppenheimers and the Ackermans etc. They continue to exist because of smart planning.

We are all mortal and at some juncture you may wish to exit your business or hand over the reins to the next generation or to incentivise key people in the business to take over and run the show to continue your legacy.

It is vital that the necessary structures and plans are in place to address the following crucial issues, namely:

Continuity.
Control.
Management.
Operations.
Reporting.
Incentives.
Dividend policies.
Exit strategy on death, retirement, sale or listing of the business.

In order to achieve a managed tax efficient succession plan for the business, the appropriate steps must be implemented.

iProtect has vast experience in assisting family and general businesses from executing a robust strategy to ensure proper and tax efficient succession planning through the use of trust owned companies that have the appropriate memorandum of incorporation coupled with shareholder agreements, key personnel structures and exit strategies to achieve same in anticipation of your retirement and exit from the business or on the event of a premature or inevitable death.

Long live your legacy.