Inevitably, every business will need to either undergo a change of ownership, or face the prospect of closing down. To ensure the long-term success of your business, it is vital to establish a succession plan and to establish it as soon as possible. Having a succession plan in place not only ensures maximum value to the current owners, but can also demonstrate business stability to investors, banks, and employees, as well as both existing and potential clients.

A well-executed succession plan will provide security and minimise stress for all involved. Succession planning helps maximise the business value and ensures the company is prepared for all possible outcomes.