We believe the only certainty in life is change.

Do not let it catch YOU unprepared.

In business, things can and do go wrong.

The sudden loss of a business shareholder inevitably leads to a demand for repayment of invested capital. Business owners know that this capital is not immediately available. They are also aware of the difficulty of determining a fair value of current equity; let alone how to find the money to satisfy the departed shareholder – or their estate’s, payment schedule.

Business Succession Partners (BSP) is a legal services consultancy dedicated to providing business owners with high-calibre legal agreements that fully cover all aspects of succession planning, partnership and directors agreements.

Having these questions and answers agreed and recorded in a legal agreement has always made sense.

Business Valuation

Business Succession Partners works exclusively with associated law firms, two of which are amongst the leading succession planning legal specialists in Australia. Whilst working with the client and their existing advisors to discover and document all relevant business circumstances, Business Succession Partners will generate the detailed instructions required by the law firms to draft the appropriate agreements

Our professionals have worked together over many years. Our joint documents are unique and none more so than the Business Succession Agreement, arguably at the forefront of the business succession documentation available in Australia. Documentation of this quality is extraordinary valuable to business owners undergoing a crisis of equity ownership.

We have designed our combined services with the needs of our clients in mind. We work as unobtrusively as possible, including working directly with our client’s business accountants. For further peace of mind, we provide initial written quote of costs for both consultancy and legal fees to our clients.

Agreement going forward

Business Succession Partners works with small, medium and large business groups. The amount of work is time-based determined by client circumstances, client requests and client instructions. This conversation cannot be had until BSP has the opportunity to examine business documentation, trusts, company constitutions and gain an understanding from the clients what their intentions are.

BSP will charge a small initial discovery fee to do this work, which is fully credited to the quote of costs when the client authorises work to begin. The hourly rate for BSP associate succession planners is $440 ex GST per hour. The hourly rate for partner James Gould is $600 ex GST.

Should a client choose not to authorise the scope of work and costs contained in the initial client letter, then other than the BSP initial discovery fee no further invoices will be raised. This means our clients get no surprises.

Find out how we can help you Protect your Equity in your Business!

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We are in business with my parents and brother. Some land had been transferred to my brother and I and we asked Jim to prepare a immediate exit strategy in case one of us had or wanted to withdraw. We sought bank finance to improve the land. Jim was able to do that plus discover a error in how the land was transferred that the bank had missed. Since then my brother has left the state and he is being paid out exactly as we set up; no argument.
We are in a syndicate raised by us to purchase a commercial winery. Our accountant was concerned about potential withdrawal of capital and the effect this would have on our bank and remaining backers. Jim was asked to come in, sort it out and get written agreement from all parties as to the movement of capital. He delivered everything we needed and more. Every syndicate member was relaxed and so were our bankers. The legal side was set up by a solicitor of Jim’s suggestion and it was the simplest set of actions for us all to achieve security of investment.
We were looking for a method to ensure two of our senior partners could afford to retire in 4 years, and that we could afford to purchase their shares. Jim gave us much more than we expected and spent a great deal of time understanding our issues. His report is one of the most important in our business and will be often referred to in future years.