Succession Planning

Did you know that only 9% of the population are predicted to be able to retire comfortably? Another word for Succession Planning is Retirement Planning. There is a serious lack of retirement planning in Australia. It basically asks that difficult and confronting question: “How am I going to get out of this business?”

 

Typically there are a number of options:

  • Sell to a third party/competitor

  • Sell to existing partners

  • Hand over to family

  • Hand over to staff

  • Close down

 

It is a very stressful process to think about and most people tend to “put it off”. The main reasons these decisions are deferred are:

  • What will I do with myself once I sell my business?

  • I can’t get enough for my business when I sell it … so I’ll just keep working

  • I don’t want anybody to know that I’m thinking of getting out as it may hurt my business (especially if my competition or key staff find out)

 

We help you to resolve these difficult issues – while you have time to do something positive about them!