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Glossary of terms used on this site

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S

Term Definition
Succession plan

Relates to the transition of business ownership and is one element of a Business Succession Report. Succession planning may relate to immediate concerns (see exit strategy) or medium to longer term identification of a potential owner/s from internal or external sources.

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Testimonials

Sean says

We are in business with my parents and brother. Some land had been transferred to my brother and I and we asked Jim to prepare a immediate exit strategy in case one of us had or wanted to withdraw. We sought bank finance to improve the land. Jim was able to do that plus discover a error in how the land was transferred that the bank had missed. Since then my brother has left the state and he is being paid out exactly as we set up; no argument.