44% of self-employed people are over the age of 50 (this is growing) and small to medium sized businesses employ the vast majority of Kiwi’s.
These two facts alone state something that’s absolutely critical – To protect the wealth of almost every New Zealander, we need to protect small to medium sized businesses. Given the age of the typical business owner, there’s also a need to efficiently facilitate the transfer of these businesses to the next generation.
There are many individuals and businesses, myself included, that work with business owners to facilitate this transfer of ownership – I do it via my business by assisting shareholders in figuring out how to transfer ownership to key people in the business under distressing circumstances using specialized insurance policies. Aaron Toresen has a team (the largest in the world actually!) that works with business owners to help them sell their enterprise for the right price, at the right time. When you’re considering selling your home, it pays to catch up with a real estate agent well in advance – they can advise you if it’s worth the hassle of painting and fixing the kitchen or now prior to sale. Selling a business is no different – It may make no difference to a purchaser if things aren’t 100% tidy when the reigns are handed over but either way, get advice!
As the Managing Director of LINK Aaron has grown what was a boutique NZ business brokerage to an international network, with over 500 brokers in 5 countries. LINK are the largest business brokerage in the world and still growing rapidly. Recently Link raised capital via one of our other guests on the show – Snowball Effect, which is likely to amplify and quicken their expansion even further – as evidenced by their entry into the US market – the head office in Los Angeles is the largest business brokerage in California.
Outside of business, Aaron loves tennis, martial arts, horse riding and of course, his family.
NZ Everyday Investor Podcast
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Where to find Darcy Ungaro
Ungaro &Co (registered) financial advisers