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Succession Planning

Succession Planning

At McKinley Plowman, we pride ourselves on being a selected B-Star accredited provider. This achievement reflects our dedicated and passionate service, offering businesses a range of innovative tools, services and expertise to boost growth, profitability and business value. McKinley Plowman truly provide a unique and trustworthy succession planning service in Perth, that allows you to form a relationship with us that will last for life.

Our Joondalup accountants are B-Star accredited to provide Value Improvement Benchmarking Advice (VIBA), a Staff Value Program and Business Life Planning, as well as dependable and collaborative associates for all of your business needs.

The range of industry organisations and small to medium enterprises (SMEs) now thriving as a result of these programs includes real estate agents, bakeries, hairdressing salons, builders, manufacturers, professional service industries and creative consultancies.

The extent of business succession planning benefits includes increased and measurable improvement in business profitability, improved cash flow, sustainable growth and increased business value. This is something all businesses deserve and have the capacity to make a realistic goal.

We understand that running a business is tough and can sometimes take a toll. B-Star’s comprehensive Staff Value Program means that improving staff motivation, retention and productivity can be made a reality for your business. Incorporating a personal coaching element – a B-Star Business Life Planning Program – provides an invaluable contribution to aid business owners in helping their staff achieve a healthy work-life balance.

This unique process, which begins with a workshop to identify and prioritise business, family and personal goals, provides clients with a personalised Business Life Plan report. Mapping out the client’s life-changing events, financial performance, comparisons to best practice, growth and succession goals, action plans and timelines, the report gives clients a clear picture of how to obtain the work-life balance they need. At McKinley Plowman, we take an extra step to ensure all aspects of business improvement are met.

VIBA’s proven step by step advice model provides McKinley Plowman’s clients with a business valuation, a detailed comparative valuation, a value gap analysis and improvement strategies incorporating key value improvement benchmarks. Benchmarking programs allowing business owners to compare their performance to others across similar industries enable business owners to consistently improve performance, productivity, cost control and cash flow.

These programs determine the true value of a business, compare valuation to similar businesses, determine a target value for a business and show how to overcome the gap to meet this target, as well as identify any other strengths and weaknesses.

Business owners wanting to partially retire while retaining control are offered a succession plan which provides time away from the business, while motivated staff grow profits and add value to it.

McKinley Plowman are a full-service accounting, financial planning and finance firm. Dynamic and proactive, McKinley Plowman acts as a partner to its business clients to maximise profits and minimise tax. After maximising our clients’ after tax profits, we then show them how to invest to secure their financial future.

To unlock the potential of your business and find out more about business succession planning in Perth and Joondalup, contact Nigel Plowman at McKinley Plowman on (08) 9301 2200 or nigel.plowman@mckinleyplowman.com.au for a free no obligation appointment.

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