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Suite 70, Capital Business Centre, 22 Carlton Road, South Croydon, Surrey CR2 0BS
At Palmer McCarthy we can advise businesses in the South Croydon area on business exit strategies. Here are some thoughts on business succession planning...
In all successful businesses the issue of succession from the current owner to the next generation inevitably comes up, but all too often business owners wait until the last minute to form a proper succession plan - by which time many options are already closed.
Once the business has survived the start-up stage, the founder should begin giving consideration to succession, regardless of his or her age.
A good business succession plan should mean that you can:
There are some essential elements to ensuring a smooth business transition:
A succession plan, or any form of exit strategy will require careful planning. Besides the legal complexities, steps must be taken to ensure that you minimise the tax liabilities and maximise your financial gains. These are areas in which we have experience and expertise. Call us if you would like further guidance.
If you are in the South Croydon area and are looking for professional advice on business exit planning, including succession planning, contact Palmer McCarthy.
24 Apr 2018
The National Audit Office (NAO) has stated that the final cost of the UK's Brexit 'divorce bill' remains 'uncertain'.
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