The why & how

Understanding the importance of planning and implementation

Why is succession planning so important?

Recent research indicates a large number of SMEs don’t survive into a second or third generation.

Having a succession plan is crucial to securing a lasting legacy and preparing future generations whilst ensuring your customers, employees, and suppliers are left with a greater sense of security.

Our checklist highlights the key areas to consider in order to facilitate and effective transition of management or ownership.

How do I implement a successful plan now?

Start planning at the earliest point possible.

Select a strong multi-functional advisory group.

Meet and communicate regularly with all stakeholders.

Keep an open mind and explore all your options.

Prioritise direction over destination.

Continue to update your succession plan.