Succession Planning for family business
Handing over power to a new generation can be challenging for any business. Succession issues are particularly evident in family businesses, where only 13 per cent make it through to the third generation.
At BDO, we help families create a workable framework for the future of their business. We take you through a process that forces you to think strategically about succession and identify ways to balance the needs of family and business. We can help you:
- Identify succession goals
- Determine appropriate short and long term management approach (family vs external manager)
- Consider any exit options
- Identify potential succession risks and develop plans to address them.
A strong future needs careful planning
Succession planning should always start with a conversation. BDO will work with you to formulate a clear succession plan that fits with your vision and ensures a stronger future for your family business.
Talk to a BDO family business specialist today and find out how you can gain control of your business’ future.
Please fill out the form below to contact us. Alternatively, please call us on 1300 138 991.