Succession Planning

Regardless of your business industry, size or circumstances, our team of business experts can provide you with the best advice when you are looking to move onto new opportunities.

Succession planning takes place when the current company manager is looking to leave the organisation and is looking to pass on the responsibility to another person who is appropriate for the role. The manager may be looking to retire or may want a plan in place to ensure the company can continue trading if they were to become seriously ill or pass away.

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Succession Tip

Victoria Ivinson

Partner

Its never too early to start thinking about succession, acting early can help the process…

With You. We go beyond the numbers

Rural Succession

After years of working to build up your farm, plans need to be in place to guarantee your family understand what will happen to the business when you are no longer here.

By creating a succession plan, you can start the conversation and safeguard the farm and your family’s future. EQ offers an initial meeting to talk through your business to gain an understanding of your individual position.

This will allow us to build a plan that is fair for each member while taking tax planning into account. Following a comprehensive report, we can help you put any necessary wills, trusts or estates in place. Once the process is complete you will have peace of mind that no matter what might happen in the future, the business will be safe, and everyone involved will be on the same page.

Corporate Succession

At some point in your business evolution, you may need to plan for retirement or wish to sell it on.

By creating a succession plan, this can ensure that you consider financial and legal implications, realistic and achievable time frames and choose the successor which is right for the business.

EQ has a team of succession specialists who can guide you through the process, so no stone is left un-turned. Our team can discuss sensitive subjects such as how much the business is worth, buy-sell agreements and potentially leaving the business to a driven employee or director.

Having this plan in place can allow you to maximise your business value and ensure it is safeguarded for the future.