Business succession planning is an important consideration for every family business.
What is going to happen to the business when you retire? How will ownership be transferred?
Taxes
It is important to engage an expert in business succession to help minimise tax implications.
Involve your family
Making sure you family is involved is paramount to avoid any family discontent.
Train your successor
You still want your business to be successful, even if you’re not involved. Take the time to train your successor. Your knowledge is invaluable to the future of the business.