"Selecting your successor is the most important decision you'll ever make"
For most family held and managed businesses, planning for succession is the most difficult, critically challenging and sometimes traumatic experience that the family will ever face. As reluctant as many families may be to deal with this issue, the health and longevity of a family business will depend on how well organised the transition process is.
At FBA we believe that focusing and understanding the family dynamics, wishes and expectations of the various family members in relation to the business, succession planning can be a great opportunity to create a multi-generational strategy that will endure well beyond the leadership transition, delivering lasting value to your family and at the same time protecting the family’s wealth and legacy over generations.
We have a very experienced team dedicated to helping family owners develop and execute each step of the succession process.
Strategic Succession Plan
"Will your business be ready for them"
It is recommended to begin thinking of creating a family business succession plan well in advance of when it is actually required. Advanced planning will ensure that the entire process runs as smoothly and efficiently as possible with drastically reduced conflict scenarios. FBA's successing planning working process includes:
- The initial consultation will consits of a series of meetings where we will ask questions in order to identify your personal expectations, wishes, intentions and objectives. Also discussed are the challenges you need to navigate along the way in relation to the commerical objectives.
- We use the findings to create a comprehensive continuity plan, future share ownership and share transfer rules and how the business should be governed.
- Other considerations include the most tax efficient solutions to transfer ownserhip of the business.