It takes years to build up a strong, partner-led professional firm, but many businesses can destroy this value quickly by failing to plan for the succession of senior staff.
Prosperity Advisers is planning for substantial growth in 2014 despite the tight economic conditions. The expected increase in operations has prompted a move recently to larger custom designed premises in Elizabeth Street.
Under a limited set of circumstances, it is possible for SMSF members to make non-cash contributions, also known as in-specie contributions, to their funds. One way in which this can be done involves the transfer of a ‘business real property’ to an SMSF.
As the economic environment we operate in changes down a gear, we have seen a lot of businesses take a closer look at what they are doing and why, while others stick their heads down and pedal harder hoping things will go back to they way they were.
The rewards of successful growth can be exponential; twice the cash, triple the profitability, 10 times the shareholder value created. More time to drive the business.