Succession Planning
Succession planning is extremely important in owner-managed businesses. While you might not intend to sell up or retire for many years to come, circumstances change and it’s important to be prepared for every eventuality.
For some business owners, change can come in the form of an unexpected offer that’s too good to turn down. For others, illness or a change in family circumstances can trigger a crisis.
Whatever the situation, without a succession plan business owners generally lose out financially.