As accountants, we like our clients to think ahead… even on a 3 to 10-year timeframe. A major part of this is Succession Planning. Where Succession Planning is concerned, clarity brings opportunity… and the risks of “getting it wrong” can be significant.

Who could have planned for what 2020 brought us? Who can predict what 2021 will bring? Business planning isn't about getting it 100% right, it's about having clarity and focus so that we can effectively navigate whatever life throws our way. Check out the article below and start articulating the goals that will make a real difference to your business in 2021!

Resilient businesses get really clear on their goals, hold themselves accountable and track progress meticulously. Recent business conditions may require you to revisit your business goals, even your business vision and Alliotts can help.

Setting goals is key to success but some people find it intimidating and don’t know where to start. This article includes a 6-point guide on goal setting to help you focus and specify goals. This will lead to astute business planning and will bring clarity to the year ahead. It’s never too late to set goals! 

Understanding the RIGHT things to do in a business is of critical importance. Business guidance from Alliotts in Auckland can help prioritise where you should allocate your time for the biggest impact.

We understand the complexity and nuances of succession planning. We work with you to create a customised approach, unique to your business and your goals for retirement. And, while succession may be far in the future for you, the time to start building the systems to facilitate a successful handover is right now.

As new General Manager Zachary knew and had worked with Hugh Bowden on tax and accounting in his previous company role, he naturally leant on Hugh to assist with structuring and transitioning Armitage Group from the legacy the founder had left.

Often when one of your children are involved in your family business or farm this creates disparity for your other children in the event of your death.

A simple solution can be using Life insurance to enable your child involved in the business to buy your share of the business from the estate.

Succession planning acknowledges that your team members will not be with a business indefinitely.

It provides a plan and process for addressing the changes that will occur when they leave.

If you have a desire to maintain wealth and pass it on to future generations it needs to be considered sooner rather than later.

Here are some salient points and key questions to help your planning process.

Imagine being able to step away from your business and take a much needed holiday. What if you had the chance to work minimal hours, or even none at all? Before you take that step, you need to be confident the business will stay on track. Take stock.

Do you have full confidence in your team to run the business the way you really want it to be run, without your having to be there 100% of the time? If the answer is ‘no’ or ‘not yet’, what would it take for the answer to be ‘yes’?

​Offering expert wealth management advice to individuals, families and charitable trusts, Michael Beech works with Alliotts clients to provide a one-stop-shop.

Michael believes that good advice starts with an in-depth knowledge of an individual’s circumstances so he is proficient at identifying specific needs and tailoring a wealth strategy to suit.