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Succession planning and business transfer
How effective succession planning can create the best outcome for you and your business.
Transferring ownership to a non-family member
The pros and cons of succeeding ownership of your business to a non-family member.
Assessing your options when succession planning
Knowing which succession options exist will enable you to choose one that's best suited to your circumstances.
Advantages of seeking staff feedback and ideas
Business benefits of encouraging regular feedback, opinions, and ideas from your employees.
Have a formal succession plan
How formally setting out your succession plan helps you to achieve your exit target.
Family succession planning
Choosing who your successor will be and preparations for the succession.
Trade sales
How selling your business might be the best option for you.
Communicate business information with staff
You will gain meaningful feedback and ideas from your employees if you regularly share key business information.
Business values
Identify and establish core business values and how to communicate these with staff.
Align employee voice and collective voice
How involving trade unions and non-union representatives can establish a collective voice in your business.
Value and market your business for sale
Setting a price, building a marketing proposition and identifying possible buyers for your business.
Key factors affecting the value of your business
Planning ahead lets you influence some of the many factors affecting how much your business is worth.
Embed business values
How to use recruitment and management systems to communicate your business values.
Transferring a business to a family member
How objective succession planning can help you pass on your family business successfully and in a tax-efficient way.
Research sources of potential buyers of your business
Your own trade knowledge, and your adviser, should help you produce a shortlist of potential buyers.
Approach potential buyers of your business
How to approach and negotiate with potential purchasers.
Identify likely buyers for your business
Key points to look out for when trying to identify potential buyers for your business.
Common methods of valuing a business
Different techniques and industry methods of business valuation, eg discounted cashflow and asset valuation.
Prepare a sales memorandum
A good sales memorandum encourages potential purchasers to find out more.
Employee engagement
An engaged workforce encourages commitment, motivation, and productivity to help improve business performance.