Family business consulting helps enterprising families resolve the complex issues that typically arise when individual dynamics are combined with economic interests, management, and ownership.
Closely held business consulting, on the other hand, is a type of consulting that helps companies that are not publicly traded.
So, why would you need this type of consultant? These types of consultants can help you with a variety of issues, such as succession planning, family wealth planning, shareholders agreements, and more.
If you’re looking for financial management for a closely held business in Portland, Oregon, then our advisory services may be right for you.
Request more information today.
Succession planning is a necessary process to ensure that a family-owned company can continue thriving after the founder retires or leaves the company. But when is a good time to start?
There’s no hard and fast rule for when owners should start succession planning. However, it’s generally a good idea to start thinking about it now, or a few years before your retirement. The earlier you start, the more time you’ll have to develop a plan that makes sense for you.
Taxes play a key role in succession planning, as they have a significant impact on the transfer of ownership and control.
For example, when a closely held business is transferred from one generation to another, or when there is the sale of closely held corporation stock, it can result in tax liabilities. But with proper legacy tax and financial planning from an advisor, your company will be structured in a tax-efficient manner and these tax liabilities reduced.
At Interactive Wealth Advisors, we offer different legacy financial solutions, all of which benefit family or closely-held ventures. These services can include
We take a holistic approach to family and closely held business consulting, working with our clients to understand their goals, both short and long-term, protect their wealth and allow their business to continue to grow, even after they are no longer involved.
Working with us at Interactive Wealth Advisors can give you peace of mind knowing that the longevity of your organization is assured.
At its core, family business consulting is all about helping family businesses thrive whether you are in the picture or not.
Then our services are right for you.
If you’re looking to sell your closely-held business, there are a few things you need to do to prepare. Here are five tips to get you started.
You may have a good idea of how much your company is worth, but it’s important to get an accurate valuation. There are several ways to do this, including hiring a professional appraiser or using a valuation calculator.
If you’re selling a family business, you may need to deal with some difficult family dynamics. You’ll need to decide how to divvy up the proceeds and what everyone’s expectations are. It’s best to iron out these details ahead of time and ensure everyone is on the same page.
Putting together the right team is also key. You’ll need a good lawyer and accountant to help with the legal and financial aspects of the sale. You may also want to hire a broker to help you find potential buyers.
You need to identify potential buyers for your business. These may include strategic buyers in your industry, private equity firms, or financial investors.
Once you’ve done all of the above, you need to get your business ready for sale. This means putting together financial statements, sorting out all tax issues, and so on. Once you’ve done all that, you’ll be ready to start talking to buyers.
As you do all of these, please do not overlook the importance of professional advice. An agency like IWA that provides closely held business financial services will go a long way in helping to ensure that all of your ducks are in a row for this event.
Call today to speak with one of our Oregon tax consultants.