Are you planning to pass your family business to the next generation? Did you know family run businesses account for 70% of all businesses in Australia! However, many people don’t know how to successfully hand over their business to the next generation. It’s a good idea to get your successor familiar with your bookkeeper and accountant as a good start so that transitions can go as smoothly as possible. Business.gov.au have put together an awesome article with tips to ensure a smooth transition. Click here to find out about how to choose your successor, developing a succession plan, and transferring the legal requirements. This article is definitely worth a read.
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