Succession Planning is getting more traction across the news over recent weeks (🙌) But a piece of research this week showed that almost 1/3 of UK Family Businesses don't have a succession plan. Succession planning doesn't mean you're ready to take the next step, but it prepares you when the time comes, and gives you full knowledge and control over all the various options.
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Guiding Business Owners to Maximise Value & Design Their Next Chapter | Funding & Exit Strategy | Founder Succession Planning | Independent M&A Advisory | Private Equity
𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝗳𝗼𝗿 𝗦𝘂𝗰𝗰𝗲𝘀𝘀𝗶𝗼𝗻: 𝗜𝘁 𝗡𝗲𝘃𝗲𝗿 𝗘𝗻𝗱𝘀! Managing succession is vital to long term value creation. In investor backed businesses, succession planning happens continuously. Acknowledging that each stage of growth requires a different skills set That business leaders each have different objectives. They have open discussions and plan well ahead to secure the next investor or phase of growth. It's normal to have a team with mixed objectives and motivation levels. But to plan effectively, you need to know who's in for the long haul vs ready to cash in their chips. Complex family dynamics can make succession planning a sensitive subject. But once you've had the difficult conversations, you can plan for the future. It might take time, but it will create a more sustainable business in the long run. If you're a family owned business grappling with succession - get in touch
Succession Planning is getting more traction across the news over recent weeks (🙌) But a piece of research this week showed that almost 1/3 of UK Family Businesses don't have a succession plan. Succession planning doesn't mean you're ready to take the next step, but it prepares you when the time comes, and gives you full knowledge and control over all the various options.
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One of the main hurdles to succession planning is families feeling discomfort. Don't go through it alone! We have seen it all and are ready to help you make the next move in your family business. Learn more: https://zurl.co/sz40 #PositivelyPeople #FamilyBusiness #FamilyBusinessPlanning #SuccessionPlanning
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CEO/Founder at Positively People and CEO/Managing Director at PP Generational Continuity Consultancy, Ltd - Kenya
One of the main hurdles to succession planning is families feeling discomfort. Don't go through it alone! We have seen it all and are ready to help you make the next move in your family business. Learn more: https://zurl.co/sz40 #PositivelyPeople #FamilyBusiness #FamilyBusinessPlanning #SuccessionPlanning
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Check out the latest from Vice Chairman Dave Barton as he delves into the critical topic of succession planning. In Citywire RIA's article, Dave emphasizes the importance of succession planning as part of an RIA's fiduciary duty, shedding light on why it's imperative for firms to have a formal plan in place. Discover key insights and actionable strategies to navigate the complexities of succession planning and help ensure a seamless transition for your firm and clients.
Dave Barton: Succession planning is part of your fiduciary duty
citywire.com
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Have you considered your succession plan? Ensure a smooth transition of wealth and protect your legacy with these key elements in your succession planning. 👇 ✅ Estate planning ✅ Business succession ✅ Family governance Schedule a consultation with our advisors to create a personalized succession plan. #SuccessionPlanning #EstatePlanning #WealthTransfer #HighNetWorth #FinancialPlanning
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Check out the latest from Vice Chairman Dave Barton as he delves into the critical topic of succession planning. In Citywire RIA's article, Dave emphasizes the importance of succession planning as part of an RIA's fiduciary duty, shedding light on why it's imperative for firms to have a formal plan in place. Discover key insights and actionable strategies to navigate the complexities of succession planning and help ensure a seamless transition for your firm and clients.
Dave Barton: Succession planning is part of your fiduciary duty
citywire.com
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Only 30% of Family Businesses Survive the Second Generation Did you know that 70% of family businesses don’t make it to the second generation, and fewer than 12% survive to the third? The reason? Delayed or unclear succession planning. 👉 One thought: Succession planning isn’t just about choosing a successor—it’s about building a framework for smooth transitions while preserving your legacy. How are you preparing for the future of your business? #BusinessContinuity #WealthProtection
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Succession Planning Apologies for the somber Monday morning post…but it allows for a whole working week to talk about it. My other half (that’ll be him, below) is away ski touring at the moment. I know he’s trained in dealing with avalanches and crevasse rescue but such conditions remain unpredictable and every day I will be waiting for that message letting me know he’s ok 😳 We had the chat Saturday about next of kin, wishes and the rest 👍🏻 These are conversations we don’t like having. I’ve always been an advocate for sorting wills and LPAs but so many businesses don’t properly prepare for succession planning or putting business LPAs and contingencies into place 📝🔖 It’s one of those topics we know we should deal with, don’t deal with and then when we do spend the time having the conversations and putting everything into place I can’t tell you how much better businesses feel about it 😁 Have you got your succession planning and associated documents for the business in place? Would you like a chat about it?
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Do you know the proper estate and business succession planning steps to take now to ensure that your family-owned business remains in the family after you’re gone? https://bit.ly/3QVbZz4
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