A well-run business always has a succession plan.

Thinking about business succession

Whether you are getting ready to exit your business or not, having a succession plan is just good business practice. Should the unexpected happen, a succession plan outlines all the potential arrangements that need to occur if and when you are not be involved in the business anymore. 

A business succession plan should include things like:

  • A proposed organisational structure in your absence
  • The current value of the business
  • Any retirement payments owed to owners
  • Buy out options for partnerships
  • A key-person insurance policy

Getting help setting up your business succession plan​

Saige can help you create a comprehensive succession plan for your business so that an easy to follow set of activities can await the new owner if the unexpected occurs. 

We can also help transition business ownership and control between the new owner if you have reached the right time to exit your business.

Put your trust in a leading firm

Succession planning can be a sensitive subject to bring up. Talk to us about how to approach succession planning in your business.