10 Wisdoms for Successful Succession

The succession process has been fraught with issues and complications since biblical times.  It’s been the subject matter of stories and dramas for as long as we’ve had the recorded word, and will undoubtedly continue to do so.  When a business is also involved, the stakes ramp up enormously because, as well as personal and […]

Read More

Do “fossilised” owner/parents threaten the survival of their own family businesses?

      An increasing number of family business owners are now past their best decision-making days. With many over 70 years of age they are fossilising on the job, risking the survival of their businesses and families, and the jobs and families of the employees who depend on them. This is not a criticism […]

Read More

Succession – are we missing the point of the economic challenge?

I think we’re missing the point.  I’ve just attended, and presented, at yet another seminar on “Succession Planning” where, as usual, almost everyone talked about:  maximising the value of the business for sale;  tax and asset structures;  insurance;  financing the deal and buy/sell agreements. Don’t get me wrong – they were all good sessions – […]

Read More

Practice Succession: passing on a legacy, or just selling-out?

A tale of two practices … In 2011 the first Baby Boomers reach 65 – the traditional retirement age for western males. The Boomer generation’s enormous energy, fed by aspirational consumerism and decades of relative peace and prosperity, spawned an explosion of entrepreneurial businesses and professional practices.  Many of the owners and leaders of these […]

Read More

Keeping it (your business) in the Family

The Challenge So you’ve built a good, even a great business, and it’s getting towards that time when, for whatever reason, you want to step out, back, or sideways.  You need someone else to take over the helm.  But, the last thing you want to do is desert everyone who’s supported you over the years, […]

Read More

All in the Family: why Succession Planning is Important

Assisting family businesses can involve many complex issues and profound challenges – from resolving sibling rivalry to handling dysfunctional intergenerational expectations. Perhaps no problem is more complex, for both the family and the business, than succession planning.  Accountants, acting as trusted advisers, have an important role to play in helping families to resolve issues and […]

Read More