Tag: Succession Planning

The future viability of small businesses is being risked as owners increasingly fail to recognise the value of an exit strategy.

As boomers approach retirement, more and more small business owners are looking to pass the reigns of leadership to the next buck, or in some instances sell the business altogether. “Many of our CEOs are baby boomers approaching retirement age,” says Kathleen Richardson-Mauro, co-author with Jane M. Johnson of “Cashing Out of Your Business”. “We’re […]

Uncertainty prevails when it comes to hiring but according to a leading consultancy firm, putting a freeze on new hires calls for more investment on those who remain.

The sooner you begin thinking about life after your business, the better prepared you will be for that day and the more likely it will happen on your terms. Here’s what you need to consider when putting yours together.

There are benefits to running your business in partnership with a friend or family member, this could mean it was established with only the bare minimum of documents. Though this may not currently present an issue, it can cause succession headaches later.

When you’ve worked hard to build your business, you want to ensure that when the time comes to transition out of it, it’s passed on in the way you’d like. For sole traders, the greatest succession threat that must be managed is key man risk. Here’s how to do it.

Running a family business means not only managing relationships with family, but also overseeing leadership skills which may differ from typical values held by your kin. Use these 10 lessons to build a solid leadership structure for your family business, to ensure its longevity.

Do you dream of retiring early? You’d better get started now.

When the time has come to sell your business, many factors need to be considered and acted upon before you’re free from any further obligations. This is what should be on your to-do list.

In the day to day running of your business you may not have had time to consider how you’re going to exit it. But you really should, as it will affect how you run it.