When considering the future, it is essential that succession planning issues are properly considered.
What does a business owner do when they have reached normal retirement age with no future plans? What happens if a serious illness occurs at an earlier age and an urgent decision on the future of their business is required? These situations and many others require orderly planning for business succession.
You may wish to ask:
- Are there capable people within your business who may become future owners?
- Is there a desire to retain ownership within a family?
- Are there competitors or similar businesses that may be interested in acquiring your business?
- Are existing business partners capable of buying you out?
- Is insurance in place that can provide proceeds to fund a business transaction?
We can help you to find the answers to these questions, as we work together to plan for and protect the future of your business.