A common misconception is that 'succession' and 'retirement are interchangeable. Whilst retirement is undoubtedly a component of business succession planning, it should not be the focus. Succession planning is more about ensuring a business can continue to operate and prosper regardless of who is at the helm of the organisation or operation.
Succession planning isn't just something that a person approaching retirement age should consider. Anyone who has founded, owned or has a financial stake in a business should consider it a key focus.
In planning the future of your business, you need to think about:
Cosgriff Lawyers has extensive experience working with businesses of all sizes and structures to ensure an efficient and effective succession plan.