Business Succession Planning
Extensive planning is required to make a business succession successful, whether the goals are short term or longer term. Adequate planning will allow you to discover new business opportunities and create wealth while securing the long-term future of your company when its directors retire.
Many entrepreneurs rely on estate planning to secure the future of their company. Devising a succession plan that is in line with your company’s current situation is all the more important, as every business has its own development cycle and every entrepreneur faces unique challenges in fostering growth and profitability.
Planning ahead gives clients the tools to achieve their personal and business objectives, while minimizing the risks inherent in any transition.
The FBBL Approach
Our experts are trained to assist and coach a variety of businesses at every single stage of achieving their succession strategy. Each component, such as locating and training a successor, ascertaining the value of the business, and establishing a timetable for the transfer of management and ownership calls for a methodical approach. Such approach includes verifications that confirm that the business and the owner are ready to continue with the succession.
FBBL’s team of professionals can make sure that the overall process is in keeping with the goals and expectations of the stakeholders of the succession: the entrepreneur, the person taking over, and the company itself.
- Strategic planning to support growth and augment the company’s value
- Personal planning, including tax optimization for a sustainable financial transition
- Planning and coordination for the financing of business transfers
- Transfer planning regarding the company’s management
- Transfer planning regarding the company’s ownership