As Seen in Multi-Unit Franchisee Report – Business Structuring – 5 Steps to Help You Protect Profit and Performance
Succession Planning Process – Business Structuring
Business structures and agreements have a huge influence on taxation, ownership control, transfer on gifts and estates, and shareholder access to cash flow.
A critical component of the interdependent areas of the Succession Matrix®, business structures also protect owners by helping to achieve desired outcomes with any partners, involved family, and key managers.
To get started, consider these 5 areas of the business structure checklist:
Assess your current business structure and business document circumstances relative to your confirmed goals.
Confirm your advisor team to assist with business structuring.
Discuss business structuring goals and issues with your advisor team.
Add a business structuring section to your succession planning action agenda.
Schedule regular meetings with advisor team to establish accountability.
Above all, business structuring deals with the mechanical aspect of how you operate your business. Use this information on the succession planning process and speak with a succession advisor from The Rawls Group in order to ensure that your transition is effectively executed, and your legacy properly secured.
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Business structures and agreements have a direct impact on areas such as, but not limited to, taxation, ownership control, shareholder access to cash flow, and family governance. Agreements preclude disagreements. Click the following links for more drill-down resources on Business Structuring.