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Glossary of terms used on this site

There are 73 entries in this glossary.
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Term Definition
Bankruptcy

A legal process that gives immediate financial relief to people with financial problems by stopping legal actions against them by their creditors. It applies to individuals, sole traders and partnerships.

BizSuccession Solutions

Is a specialised consultancy based in Perth providing tailored exit strategy and business succession advice to business to business Trust or company partnerships. The consultancy is the originator of the Business Succession Report.

Break-even point

The level of sales where a business' revenue equals its expenses.

BSA

Business Succession Agreement - A legally binding agreement based on a Business Succession Report and drawing the elements of exit planning strategies, corporate governance and dispute resolution into a cohesive document.

BSR

Business Succession Report - a written management document which is a tool used to analyse, develop, and grow a business. Business plans generally address both strategic and operational issues. Consisting of five specialised components it acts as the source of instructions for a legally drafted Business Succession Agreement. A BSR is unique to BizSuccession Solutions.

Business capacity

Is the resources available to a business to underpin its activities including actual or potential ability to perform yield or withstand.

Business Succession Agreement

A legally binding agreement based on a Business Succession Report and drawing the elements of exit planning strategies, corporate governance and dispute resolution into a cohesive document.

Business Succession Report

A written management document which is a tool used to analyse, develop, and grow a business. Business plans generally address both strategic and operational issues. Consisting of five specialised components it acts as the source of instructions for a legally drafted Business Succession Agreement. A BSR is unique to BizSuccession Solutions.

Business Valuation

(BSR analysis element) To work with the business accountant to establish the formula that best values the industry the business is part of. To examine the ownership and provider and type of all business debt and to establish profit before tax over the two years past.

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Testimonials

Bruce says

We were looking for a method to ensure two of our senior partners could afford to retire in 4 years, and that we could afford to purchase their shares. Jim gave us much more than we expected and spent a great deal of time understanding our issues. His report is one of the most important in our business and will be often referred to in future years.