Succession planning remains a significant issue for family business owners in Australia, with a range of economic and business factors placing increased emphasis on proper planning. Many find that they have left exit planning too late and do not have adequate plans in place.
Our experienced PKF business succession advisers work with our clients through every step to ensure that the business and its owners are given the level of support and guidance that is required.
It is important that individual and business requirements are discussed and carefully considered within each personalised plan. We understand that "letting go of the reigns" is very difficult for family business owners who have been actively involved for many years. Our approach helps to make this process as smooth as possible, with a focus on the future success of the business.
Our team can assist in the implementation of appropriate governance, risk management and reporting systems that are designed to give business owners knowledge and security as they transition to a less "hands on" role. We can also assist with the recruitment and selection of key personnel and act as a "sounding board" to management if required.
Our succession experts can work with you to ensure security for your family, your business and yourself, whilst developing the optimum strategy for a successful succession process. There are a number of succession options available to you to ensure the value of your business is protected, including:
- Sale of business
- Generational succession
- Employee/management buy out
- Structured realisation of assets
- Public listing