succession planning
Succession planning in Family Businesses is frequently ignored, leading to disastrous outcomes.
The future of the business is not the only consideration because it is also the impact on the family behind the business that needs to be carefully considered.
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Start early
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Document your plans
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Make sure you have up to date agreements
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Decide who willl run the business once succession occurs
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Review your succession plan on a regular basis
WHAT IS MORE IMPORTANT, THE FAMILY OR THE BUSINESS?
While each Family Business is different, how this question is answered sets the stage for the ensuing five important points mentioned above to be covered and considered.
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LET'S TALK SUCCESSION PLANNING.
The most important aspects of our work is to ensure your business is profitable, alongside being well poised, but what are the next crucial steps for your businesses future?
