Business Planning

Business Planning

Altermann Fuller Ltd helps you find ways to enhance your wealth and free up valuable time by working with professionals that know you and your business inside out.

We help you identify the right wealth strategies to suit your needs and work with your other professional advisors to ensure we are all working from one, well thought out plan.

Launching a new venture

Small businesses are at the heart of the growth and well-being of any economy. While you may not be as familiar with their names as you are with the multinational corporations, it is the smaller family run and privately-owned companies that drive the economy forward.

Setting up a new venture can be expensive and highlights the need for keeping a firm grip on money management so the fledgling business can survive and prosper. Securing sufficient capital and creating a well-defined business plan are two basic strategies that help you keep on the right track and leads to success.

While you are heavily involved in all that getting a new business off the ground entails, your personal finances mustn't get overlooked. Getting a new venture off the ground and handling the day-to-day operations can take all your time, leaving little opportunity to attend to your own financial future. We assist you in making sure your personal finances are in good order so you can reap the rewards that ownership brings.

Passing the business on

Just because a company is privately or family-owned doesn't mean it has to be small. Massive companies such as Mars Inc, Koch Industries, and Cargill are privately owned, and companies like Walmart are publicly traded, but still family-run businesses.

Many family business owners prefer to keep the company under the control of their family, and situations such as retirements, deaths, and disability make a change in who runs the business necessary.

Even though arrangements are made within the family, it is still a business agreement and requires all the legal and financial measures to be in place, the same as if the company was being transferred to a stranger. To ensure that the family legacy continues operating long into the future, you need to be sure that everything is in place for the next family member to take over.

Acquiring a new business

Buying a business that is already up and running can be less risky and more straightforward than starting from scratch. Buying an existing company saves you the time and expense of starting from nothing, and the business may already have an income stream.

You may also find it easier to find financing for a business that is already running. However, the cash outlay may be higher, as someone else has already gone through the hardships of establishing the company.

You should also be aware that many acquired businesses lose one-tenth of their customer base in the first twelve months following a change in ownership. Meticulous planning and advice from experienced counsel will help maximize the advantages of buying an existing business and minimize the impact of potential negatives.

Selling a business

All good things come to an end, and if you have been running your business for a while and don't have or don't wish to pass it on to family members, selling or closing the company is an option.

The reasons to sell or close businesses down are many, some decisions are made voluntarily, and some are not. It is estimated that over half of all companies don't make it past four years, so it is crucial that owners have a plan in place for this possibility.

A good plan can help avoid business losses and help owners see the signs that point to it being time to move on. After putting all that effort, time, and money into the business, you want to make sure you get back as much as you can and make a good profit on the sale if possible. If you are closing down, there may be other issues to deal with, such as outstanding debts and potential bankruptcy. Careful professional guidance and planning can make the difference as to whether you sink or swim once the business is no more.

Whichever scenario applies to you, the sooner you take control of your destiny, the better your chances of success are.

Other related areas Altermann Fuller Ltd business planning can help include:

All these situations and more affect your daily routine and your income. Being prepared and planning well always puts you in the best position to thrive, whichever life event you are experiencing.