Take advantage of FREE Succession Planning Workshops
Free seminars addressing the vital ‘how to’ strategies of business succession planning are now available to owners and advisers of small businesses across Australia. In a project organised by Ernst & Young Australia with the input of Nursery & Garden Industry Australia (NGIA), and funded under the Australian Government’s Building Entrepreneurship in Small Business Program, free seminars will be held nationwide between August and October this year.
The Small Business Succession Planning seminars will raise awareness of the main components of a good succession plan, helping business owners prepare for this critical time in the life cycle of their enterprise. Specifically, the seminars will help business owners to diagnose their current readiness for business exit, increase their awareness of the need to set purposeful goals, develop business succession strategies, and effectively plan for their eventual retirement from business. The program is also open to business advisers, through a separate seminar stream.
Business owners in the nursery and garden industry are invited to register for their nearest event by visiting the NGI website www.ngia.com.au and following the links. The purpose-built Small Business Succession Planning website www.sbsp.com.au which hosts detailed information on the workshops also includes a succession planning self-assessment tool and an online seminar option. Business owners and advisers can also order, free of charge, a succession planning guide on CD Rom.
Seminar outline:
- Evaluating your position
- Setting your goals: personal; financial; business
- Planning your succession strategy
- Choosing the next leader
- Addressing the key people to the business
- Finance and working capital
- Systems and processes
- Structure documents for your business’ continuity
- Methodologies of ownership exit
- Business valuation
- Locating investors and marketing the business
- Taxation consequences of ownership exit
- Superannuation and retirement
- Risk management
- Time frames
- Documentation of a succession plan
- Project management
- Stakeholder identification, communication and management
For more information visit www.ngia.com.au.
