In broad terms, TRANSFER business succession planning involves the following key steps:

• Self assessment of the business in readiness for succession;
• Prioritising your personal and business aspirations;
• Assessing the viability of family succession;
• Developing strategy on the future direction of the business;
• Building consensus amongst shareholders on future roles;
• Training key people to be the company’s future leaders;
• Estate planning considerations for business owners.
• Succession plan development and implementation;

Each of these steps are as important as the next and will ensure you successfully transfer business control on to others so that the business will continue to prosper and grow.