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» New seminars available. » New website goes live. |
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| Business Planning | |
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Who is minding the family store?
For many families, their wealth is inextricably intertwined with
a family business enterprise. Financial and legal decisions made
for the business will impact the family, and estate planning for
the family can likewise have consequences for the business.
Entrepreneurs should begin with the end in mind.
Families who own small businesses need techniques to grow and
formalize their business, a sound retirement plan, a strategy to
protect their hard-earned assets, and a succession plan.
Families who own more mature businesses additionally need help
making the key transition from an entrepreneurial culture to a
managerial system. The owner will want to create systems and
procedures that will decrease the amount of hands-on time he or
she needs to spend in the business. Advanced planning that goes
beyond the basics is required at this level.
Owners of established businesses will also need to begin to
develop and implement their “exit strategy”—answering such
questions as: Should I sell my business? To whom? How? At what
net price? What are the most advantageous methods of turning
my business in to cash?
Our Location
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© 2007 W. Vito Lantui & Associates P.C
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