Business Succession Planning Consultants
We deliver each of our services through a team of financial professionals who adhere to the highest standards of our industry. When you become a DMJPS PLLC client, our entire team has your back.
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Family Business and Small Business Succession Planning
As a business owner, your legacy and the ability of your business to stay healthy way into the future is one of your top priorities. You built your business to provide for yourself, your family, and your employees. Yet, whether it is the result of a sale, a planned turnover, or an unexpected life event, the day will come when you are no longer running your business daily. To ensure that your business continues to thrive when you are gone, you’ll need to plan for both expected and unexpected transitions.
Business succession planning is an orderly process by which the ownership and management of a business are transferred to the next generation in a tax-effective manner. However, passing the torch to a new owner, ensuring continued business growth, and securing your legacy can be complex and daunting. Small and family business succession planning consultants consider these factors and more to conduct a smooth transfer with a plan that addresses the unique circumstances of the situation.
DMJPS’ succession planning consultants have decades of experience helping all types of businesses transition successfully from one generation or employee to the next. Our business succession planning consultants help you develop an effective strategy to ensure a successful transition. In addition, DMJPS’ consultants will help you address challenges unique to succession planning for small businesses so you can strategize effectively for the future.
How DMJPS Consultants Help Develop an Effective Exit Plan
DMJPS’ business succession planning consultants understand that every transition strategy must be tailor-made to meet the company’s unique needs and challenges. Therefore, our planning services consider every business’s distinct circumstances to develop the right strategy for you and your business. We also work to strengthen the critical areas of your business with all members of your professional team, such as sales, marketing, operations, and customer service, during the planning phase.
For family and small business owners, succession planning should include a financial plan for life after the sale. After selling your business, how do you plan on supporting yourself and your family? DMJPS also offers financial planning and wealth management services to help you prepare for the transition out of business ownership. Our business succession planning consultants and other professionals will help you financially prepare for life before, during, and after this business transition.
Benefits of Company Succession Planning
A well-designed succession plan enables business owners to:
- Control the process and timing of their business transferal
- Achieve their personal financial goals
- Maximize their company′s value
- Facilitate their retirement
- Explore all available options for their succession
- Promote long-term growth and survival of their business
- Minimize taxes on the transfer or sale of their business
Failure to address business succession planning typically results in the following:
- Not achieving the highest value for a business
- Poor control of timing or strategy of the succession plan
- Family fairness issues
- Additional income and estate taxes
- Lack of longevity of key employees concerned about the future control of the business
- Uncertainty for all stakeholders
Work With DMJPS for Successful Business Succession Planning
Every business, big or small, benefits from succession planning. Business consultants experienced in accounting, and taxation can help you plan an effective business succession strategy. With over 70 years of accounting and consulting experience, DMJPS’ company succession planning advisors are uniquely positioned to help you, your family, and your employees prepare for a smooth and productive business transition.
Our professional team of tax consultants, accountants, and wealth managers will work with you to develop effective succession planning solutions to minimize conflict and ensure continued business growth. With offices in Greensboro, Asheville, Boone, Durham, Marion, Sanford, and Wilmington, our advisors can schedule a time to meet with you in-person or by secure teleconferencing. Contact us now to schedule a business succession planning consultation and learn how we can help protect you and your business’s future.