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Few people have what it takes to start a business on their own. In most cases, it is necessary to have one or more partners.
However, the arrangement at the outset may not reflect how it all ends. There are times when, for one reason or another, one of the business owners wishes to secede from it.
When a partner in an existing business wants to exit it, they enter a buy/sell agreement. These are legally-binding arrangements that enable one party to transfer business interests to the remaining owners, in the event of death, disability, or other circumstances.
A buy/sell agreement is designed to provide funding for a buy-out of an owner. The intent is to allow the enterprise to continue even with the loss of one of its principals.
These agreements can be challenging to navigate, as business partners usually have emotional ties to one another. Any personal fallout affects the arrangements if there is no neutral party. As such, it is best to have financial advisors to handle the details of the buy/sell agreement.
With The Financial Advisors Perth, you don’t have to worry. We have years of expertise and experience in advising business clients. We have structured and established agreements of this nature, allowing businesses to survive and thrive even after the loss of an owner or partner.
Our project management skills can give you the safety rope needed to survive a secession.
We also make sure all the legal paperwork is ready. We cover the drafting and filing process and make sure it all goes where it needs to go.
Business survival is important, especially for new firms. The first few years are crucial, and the loss of a partner or major financial backer can ruin even a promising enterprise.
With our business secession solutions, we can ensure that you survive such a loss and carry on.