YOUR FINANCIAL JOURNEY
Post-Business Sale Management.
Post-Business Sale Management
I’ve sold my business. What should my next steps be?
Following the sale of a business and receiving a large cash sum, the first thing you should do is obtain some tax advice. There are some extraordinarily generous taxation benefits around the sale of a business and it is as important to comply with the rules for maximum tax efficiency.
The best use of the capital from the sale of your business will require you obtaining advice on managing the business sale proceeds.
Here are some key questions we can help with:
- Utilise Sale Proceeds: How do I best manage/utilize this money? Will I need to work in some capacity to continue funding my current lifestyle?
- Income Replacement: If I decide not to work again, how can I ensure I have a regular income that replaces what I previously received from my business?
- Long-Term Support: How can I ensure that this money helps support my lifestyle and fund my retirement in the future?
- New Business Ideas: I have ideas for a new business or investing in one; can you help identify potential risks?
- Giving Back: To avoid boredom, I’d like to give back through volunteer or mentoring work.
After a meeting with our team, you will have clear direction on:
- Investing your capital to fund your lifestyle expenses replacing business exertion income with investment income.
- Funds required to support a comfortable retirement income in the future.
- Balancing work-life activities with business support.
- Ensuring adequate funds to support both lifestyle spending and investment in the new business.
