All family businesses will need to deal with their succession planning. The statistics suggest that most do not have a documented plan. We strongly believe that the baton should be passed on with a warm hand rather than a cold one.
We can help you to construct a succession plan that takes into account the wants and needs of all the key stakeholders.
This can often involve development plans for the next generation, whether that is related to the ownership, management or leadership of the business.
We explore with you the reasons that you would want the family business to continue what role you want the family to play in the business in the future.
When looking at ways to pass the ownership of the business on we will ensure that this is done in the most appropriate way.
Ready to start your Succession Planning?
Deciding who takes on the ownership of the business and when can be tricky. We help you to explore this and create a plan.
You will want the business to be managed by the most appropriate person. Often the person identified will need additional training and development. We can deliver this.
If you are moving on from the business you may be concerned about who will lead the business or the family in the future. We can create the right framework for this to be addressed.
What are you going to do next?
One of the more common issues we come across when dealing with succession planning is the need to ensure that the ceding owner / manager / leader retains a sense of identity and purpose beyond their current role within the business.
Given the extremely high levels of emotional ownership with a family business, this can be a particularly challenging time for the ‘senior’ generation.
Our work ensures that the road ahead is full of excitement rather than trepidation.
DOWNLOAD OUR E-BOOK
Our e-book explores the uniqueness of working in a family business. We look at the advantages and challenges. Download your copy now.