wealth

Our Families in Business service provides advisory and accounting for small to medium-sized family-run businesses.

Beyond that, our additional services are designed to help you, as a family business owner, value your business and protect your family and your wealth.

valuations

Business Valuations

Without a professional valuation, you’re just guessing. That’s a risky and high-stakes game to play.

It’s a fact that many business owners over-value their businesses and this can create a painful shock when the time comes to exit.

  • There are many potential reasons to initiate a valuation:
  • Are you looking to exit the business when you’ve reached a particular value?
  • Do you need to demonstrate the value to lenders in order to obtain finance?
  • Are you looking to sell or merge the business as soon as possible?
  • Do you need to provide a valuation to potential new equity holders?
  • Has there been a relationship breakdown or financial split?
  • Have you suffered the death of a business partner?
  • Do you want to effectively succession plan or estate plan?
  • Are you looking to obtain buy/sell insurance funding?

Or perhaps you’re just curious about what your hard work means for the value of your business – and how to increase it?

  • The Prosper Advisory business valuation service provides:
  • An accurate valuation to aid current and future planning and growth targets
  • Established expertise from experienced advisors
  • Advice tailored to your business type, location, size and other key demographics
  • A formal valuation with a detailed assessment of how the value could be increased
  • Peace of mind that you’re working off accurate figures rather than pure guesswork

Speak to us to get started on a business valuation you can trust.

protection

Business
Protection Advice

Did you know that only nine percent of businesses have a formal business succession plan?

If you’re one of the other 91 percent, it’s important to take steps to protect your family and reduce the risks of being impacted by unforeseen events.

  • Business succession planning should cover the following key areas:
  • Understanding the key risks that your business faces
  • Devising strategies to mitigate risks and preparing action plans for if they eventuate
  • Protecting yourself, your family and business partners from an unexpected exit from the business
  • Protecting your family and business from a temporary absence through illness or injury
  • Developing or reviewing a buy/sell agreement
  • Ensuring you have the right insurances (amounts, types, and quality) in place to cover all the major risks to you and your business.

Risks exist no matter the size or type of business you have. When you’re in partnership with other owners or families, it becomes even more important to protect your share of the business and you and your family.

Speak to us to get started or to revisit and update your existing plans.

insurance

Personal
Protection Advice

What would happen if you or your partner could no longer work or had serious health problems?

At Prosper Advisory, we take these matters seriously. It’s not as uncommon as people imagine – and can seriously affect your peace of mind and wellbeing as a professional or a family business owner.

Some personal insurances just make good sense and help you sleep easier. You may not always be able to prevent health problems – but you can take a few simple measures to ensure that your livelihood is protected if things do take a turn for the worse:

  • We will help you:
  • Calculate how much cover you need and why: clear debts, cover medical costs, provide future income, cover current and future living costs, pay the school fees and kids’ costs, and ensure you can still have a life and enjoy holidays.
  • Understand the types of cover available and which ones you should prioritise: Life insurance, total and permanent disability insurance, trauma insurance and income protection insurance.
  • Compare potential insurers based on price and quality of cover: We are independent and not affiliated with any insurer, so you can trust our advice to look after your best interests.
  • Understand the most cost-effective ownership structure. Most insurances and associated premiums can be owned and paid for from your superannuation, making it affordable for you to protect yourself and your family.

Don’t make the same mistakes that other Australian professionals and family business owners make.

Arrange the protection you need.

Prosper More…

Get in touch with us today

We can also hold meetings via phone or video and in the CBD by appointment.