If you’ve just started out in business, chances are you’ve never heard of succession planning. If you are familiar with the term, do you have a succession plan in place for your business?
As a business owner you have invested time, effort into building something that will hopefully continue to thrive long after you decide to leave. To secure the future of your business you need to do some succession planning.
Succession Planning will vary from business to business to business. Consider the following when preparing a succession plan:
- How much is your business worth?
- Who will be your successor?
- What sort of management strategy should you adopt for existing staff to ensure a smooth transition?
- How will your departure affect key business relationships such as suppliers and major customers?
Succession Planning can me a much easier process with the help of business accountants. At Account Experts we provide realistic and measurable milestones to ensure that your succession plan is achievable.
Call us now at 1800 951819 to talk to our specialist team!
