Succession planning needs to be done early and well in advance of any handover.

Decisions need to be made in terms of who will succeed the current owner and what skills they will need in order to run the business, and most importantly what direction the business will be going in under this new leadership? Succession is a plan for change and by its very nature an uncomfortable journey. However with a clear, shared focus between owner, successor and stakeholders as to what the end goal should be and an implementation plan in place to get you there, the road should hopefully be easier to travel.

The TRANSFER Assessment is an analysis of the current succession situation within the business, highlighting all key areas for consideration. Given that succession should be tailored around the unique characteristics of both family and business issues, the result of the TRANSFER Assessment will be a Succession Plan specific to your business needs.