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Specialty Areas - Closely Held & Family Businesses
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As a closely held or family business owner, you are subject to some very unique business challenges. Your career is enormously important to your ultimate success - which means the choices you make can have a tremendous impact on you, your family, and your legacy. Because your closely held or family owned business is your most important asset, your need to preserve and protect it is a top priority.
At Elko & Associates, we understand the complexity of your situation, and we have the experience and resources necessary to provide personalized support in all areas of your closely held and family owned business. We serve as an integral part of your management advisory team. As your objective business partner, we can provide you with a team of professionals qualified to fill multiple roles.
Areas of Specialization
Studies show that less than one-third of closely-held and family owned-business will complete a successful transition to a second generation, and less than 10% will complete a transition to a third generation. What is the difference between closely held businesses that fail, and those that not only survive, but also flourish? Simply put, the answer is proactive and superior planning.
At Elko & Associates, Ltd., we have developed a deep understanding of our clients' businesses and an appreciation of the family dynamics that enter into the picture for closely-held businesses. It is this understanding that lays the foundation for our innovative solutions to the challenges faced by organizations like yours.
Running a business is hard work. Leading a family-owned business can be even tougher. Because our team understands your unique challenges, we can serve as an advisor to help you through the tough situations so you can relax, knowing that your legacy will survive transition to successive generations.
In addition to our traditional tax and assurance services, we provide a number of specialized services to closely held and family business owners:
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Strategic Planning
- Vision development/refinement
- SWOT analysis
- Financial analysis
- Strategic contingency planning
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Succession Planning
- Management/Ownership succession planning
- Shifting control
- Writing succession plans
- Financing
- Tax planning
- Retirement planning
- Buy/Sell agreement development
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Estate Planning
- Transfer of ownership
- Identifying appropriate professionals
- Family limited partnership planning
- Tax planning
- Tax compliance
- Gifting
- Buy/Sell agreement development
- Retirement planning
- Business valuation
- Grantor retained annuity trusts planning
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IT Consulting
- Technology planning and budgeting
- Network design and implementation
- Network management
- Security management
- Policy and procedure development and implementation
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