Nobody likes to think about it, but it’s inevitable that one day you’ll leave your business. Whether you decide to sell up, retire or leave due to health reasons, it’s important that you plan for that day. A succession plan will help your business transition smoothly into the next phase.
With experience in succession planning, STS knows that every business is unique, and every family has their own personal objectives and needs. Planning to move on and transition to the next phase in your life can be a difficult and complex issue.
Our team will assist you in taking a step back to look at your circumstances from a big-picture perspective and help you to create the best solution for you and your family or associates.
Our typical succession planning process is:
- Meet face-to-face or via zoom to work through a specially developed questionnaire to understand your business and personal objectives;
- Identifying and prioritise the key issues for the family and the business;
- Develop a draft family charter (if a family business);
- Reach a consensus on key issues, and complete a charter or business plan; and
- Periodic follow-up meetings to ensure accountability & monitoring of progress and make changes as required.
It is never too early to start planning for your future. Speak to our team about your starting your succession plan today.