Succession planning helps you identify and develop a plan for the future of your business. It is never too early to start working on your business succession plan. At MBS we help develop a plan for this transition, based on your business and goals.
People often ask, when is the right time to create a succession plan? The answer is now. All business owners leave their business one day, whether it’s because they decide to sell or step back, or a change in circumstances requires them to do so.
All business owners want to know their business will thrive without them at the helm, and any business owner looking to retire will need to find someone capable and competent to take over. This is where succession planning comes in.
The business advisory team at MBS Advisors can help you develop a sound succession plan, based on your business and your goals. We can help you make decisions on how to transition the business from one owner to the next, whether you want to remain in the business, own shares, or leave entirely.
Research from Xero indicates that three out of four New Zealand business owners are expecting to sell their businesses to fund their retirements. However, 30% don’t believe their business would survive without them, and 47% don’t have an exit plan in place.
Don’t wait until it’s too late. Talk to the team at MBS Advisors about creating your succession plan today.
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