Rome wasn’t built overnight, your business wasn’t as well. It took blood, sweat and tears to build a profitable one. You probably did it with the support and patience of your loved ones and the dedication of your business partners. That is why you would need a strategy in place, so that your family could be provided for while your business continues its operations. >
The succession of a business remains one of the biggest challenges that is faced by many business owners, as most businesses fail to make it past the second generation of successors. Many business owners and HR practitioners believe that business succession planning is a complex process and should only be considered by the MNCs with sophisticated organisational structures.
No, quite the opposite – succession planning is extremely important for smaller organisations as well. We have assisted many family businesses in planning and transitioning for the next-gen successors to take over, allowing time and space for them to take over the running of the business and gaining the buy-in from existing employees for the next generation of leadership.
Passing the leadership baton takes time, many years in fact, so if you are a business owner and you would like to make a difference for your loved ones and loyal employees, speak to our estate planners today.