Business Succession Planning

When you’re busy running a business, it’s easy to overlook financial considerations.

And with most business owners making no provision for what will happen when it’s time to retire, you’re not alone.

What is Business Succession Planning?

Put simply, Business Succession planning is a process for identifying and developing new leaders who can replace old leaders when they leave, retire or die.

Strategies to consider

• Business Loan Protection Strategies
• Shareholder / Director / Beneficiary Loan Protection
• Key Person Revenue Protection
• Business Succession Safeguards

What are some of the risks of not planning?

• Your partner or family may not receive full value of your interest
• Your business partner may be left to run the business alone
• Lending institutions may call in guarantees
• The business may have difficulty meeting financial commitments
• Unforeseen illness or injury does not stop bills needing to be paid

Thinking about developing your business success plan? Talk to us today.