Succession planning and business transfer

Introduction

Preparing to hand over ownership of a business can be tough for owner-managers, but getting it right is crucial if the business is to remain successful - and early planning is key.

This guide and interactive tool will highlight your succession options and help you identify the best route for you and your business.

Succession planning involves transferring ownership and control of a business to new management. The three main options are: transferring ownership to a family member, transferring ownership to a non-family member or disposing of the business through a sale, management buyout, management buy-in or voluntary liquidation.

This tool will give you a detailed report of the succession options most suitable to your situation. It will also explain what to do next in each case and point you towards external advisers who may be able to help. The tool should take no more than five minutes to complete.

Subjects covered in this guide