Retiring from your own business which you have built up for many years can be not only an emotional milestone but also a financial and legal challenge. Getting it right is important for your financial well-being in retirement as well as the continuation of your business. Retirement is looming for a significant group of small business owners. 31% of small business owners in Australia are over the age of 50. Many do not have adequate superannuation and face a bleak retirement if they cannot access the value they have built in their business. This is a particular problem for the owners of professional practices including consulting engineers.
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