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The future of your business will not always include you: Business succession planning

Posted: 21st March 2017

For owner-managed and family businesses, the reality is that the future of your business will not always include you. Whether you decide to sell, retire, or simply just want to do something else, a good succession plan will lay strong foundations for a smooth transfer of your business.

Starting to plan early is key, especially in looking at management succession. What if a life event should arise unexpectedly, such as illness or death? Without a plan the future of your business could be at stake.

A good succession plan will help you:
• Protect the legacy of your business
• Build value in your business
• Provide financial security for your family and your stakeholders
• Address unexpected events (illness, accident or death)

Shepherd and Wedderburn has put together a business succession planning seminar to help business owners understand the ways in which they can build value in their organisation and embed the right management competencies to confirm that there is a sound succession plan .

George Frier, Corporate partner, and Malcolm Rust, Private Client partner, both from the firm’s Family Business Group, will be joined by business planning expert, Fergus King of Shirlaws Group.

One of the foremost business coaches in the UK, Fergus has worked with many of the UK’s leading, owner-managed businesses over the years. He will talk delegates through some of the strategies they might consider for embedding long-term value in their business, and share his thoughts on the ways in which the right culture can be fostered to produce sustainable growth, and ultimately a smooth path to exiting the business.

If you’re interested in attending the free event, visit the Shepherd and Wedderburn events page.

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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