business co

Succession Planning

 

Succession planning is often the last thing businesses think about; this is a mistake, as is just giving the business to the next generation.

 

Only 30% of all businesses that transfer to 2nd generations survive. The BA team can assist businesses with developing succession plans. One of the key questions is when is the right time to start, while there is no clear time frame, all businesses should have succession planning as part of their risk management plan and intergenerational change should be considered at least 7 or more years in advance.

 

 

Succession planning is an under developed area of business strategy.

 

Our Principal Consultant is currently working on Academic Research in this area, in 2010 Nigel is undertaking a research project with RMIT University to further our understanding of this critical area of Family Business.