Succession planning can mean different things to different people.
For individuals, it could be about ensuring your personal wealth is not at risk, should something unforeseen happen. For business owners, it could represent a desire to keep the business in the family with or without their involvement in its management or to look at viable options to realize the full value of the business when you exit in the future.
Regardless of your situation, making a decision about succession is rarely straight forward. It requires careful consideration to ensure no stone is left unturned. More often than not, success planning benefits from an objective view.
BDO’s succession planning specialists have in depth knowledge of the common issues people face when considering their future. Whether you’re simply planning for the future (and being realistic about your own mortality), dealing with a family issue or bringing in the next generation to a family business, our team can help.