Tag: Succession Risk

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.