Comprehensive advice for entrepreneurs and owners
Verona’s expertise has been customised especially for the needs of entrepreneurial-driven companies. We have a unique combination of expertise in taxation, ownership arrangements, legal services and wealth management, all under one roof. As a result, we are able to see the holistic view for each of our clients.
Verona’s professional expertise and extensive networks allow us to give comprehensive advice and to build and implement unique solutions that benefit the entrepreneur, companies and their families and other key stakeholders, including across several generations, if necessary.
A few examples of how we have helped our clients, and how this could help you through our expertise, are given below. What is your situation?
Advance planning is key to success. A part of our promise is to stay up to date and one step ahead of your situation and that of your company. Please contact us, and we are ready to work with you to find the best solutions.
Every company starts somewhere, but some get started more quickly than others. If a new company produces a significant cash flow and grows quickly during its first stage, finding a high-quality accounting firm may not be enough.
For example, successful video game companies are known to achieve a significant exit value quickly. Therefore, entrepreneurs should consider opportunities related to the ownership structure with the help of a specialised advisor already during the start-up stage to ensure that their financial planning is optimised.
In addition, generational changes offer a new beginning to companies and their shareholders, but also challenges in ensuring the change is successful, and the structuring of such changes has an impact far into the future.
The growth stage often involves not only rapid development, but often changes in shareholdings, management and wealth accumulation.
The current and new shareholders of growth companies need to consider, for example, the ownership structure for the shareholders, financing arrangements, the content of shareholder agreements and the management of the increase in value. Here, expert assistance comes in handy, so that future goals and plans, as well as the cash flow needs of shareholders and their families, and taxation are taken into consideration.
When businesses expand abroad, both opportunities and risks multiply.
Group and ownership structures, financial solutions supporting internationalisation and the acquisition of other entities, as well as questions regarding location, form a complex package that affects companies and their owners. We help companies to optimise this package so that it covers the future plans, taxation implications, market area risks and the financial situation of owners.
It is often thought that increasing wealth is the easiest and best stage during the lifecycle of companies and their owners. In fact, it is one of the hardest. What to do with all the wealth?
It is important that the ownership structure of such successful companies is planned correctly, as it affects, for example, tax efficiency during dividend distribution and exits, risk management, future partnerships and the engagement of employees. Furthermore, the management of a company’s financial wealth should be tax-efficient in a way that supports the company’s future operations.
The advisors to these companies need to have a profund understanding of the business and the needs of owners.
Companies and their owners benefit from expert advice when all goes well. Advice is especially valuable when not everything goes as planned, and crisis arrive.
Companies facing financial difficulties typically require help to acquire additional funding or to reorganise their existing funding base. When planning this, special attention must be paid to the impact of the selected solutions on ownership structures and taxation. We are able to help the current and new shareholders of companies in crisis, for example, regarding risk and liability questions and tax planning of losses.
We also ensure that the future is never forgotten, not even during difficult times. Financially weak years can possibly be utilised when planning future taxation. Crises may also determine when is the best time to carry out generational changes and to engage the personnel.
Sale or purchase
When a company’s ownership changes, the ultimate goals of buyers and sellers, and the nature of the transaction, largely determine how the transaction should be arranged. In addition, the use and investment of funds obtained from such a business transaction should be considered, at an early stage in the sale process.
We have successfully assisted a number of our client companies during business transaction negotiations and in the preparation of the documents required. We also help companies that have already closed the deal and private individuals benefitting from the sale, in planning and implementing the tax-efficient management of the proceeds.
We help those planning business transactions with the ownership structure, financial planning, shareholder agreements and due diligence processes. We always address the personal needs of new shareholders and the condition and life cycle of the acquired company.
Retirement. Appointment as the chair of the Board of Directors. Generational change. Sale. There are many ways to reduce your involvement in a company. The owner cannot always decide when to reduce their involvement, which is why thorough planning is essential.
Who will continue to run the company? Does the company have some wealth that should be distributed? Will you need to receive income from the company after you have stepped down from its management? Are you ready to commit to the company’s operations after a business transaction? We plan and help implement the ownership and other arrangements required in accordance with the needs of the owner as circumstances change.
Afterwards, we offer help in the management of personal wealth and planning tax solutions for the remaining assets.
A generational change often has a major impact during the lifecycle of a company. It may take everyone by surprise or be the result of decades of planning. In any case, the selections made before and during a generational change can have an impact on the operations of the company and the financial situation of those who continue to run the company, far into the future. This is why generational changes must be carefully planned and controlled.
What tax relief is possible in the current situation? What should be changed in order to fully utilise such relief? How can taxes and any possible purchase price be paid? Who will hold control over the company? Should there be a shareholder agreement between siblings? We help you to answer these and other questions related to generational changes, and we carry out the arrangements required.