The decision to start or buy a company is one of the most crucial and life-changing business choices you will make. The decision to retire is just as significant. Inevitably, we all retire at some stage and whilst it can be quite an overwhelming time, it can also provide many opportunities for you and your business.
The success of family businesses are often linked to the owner’s knowledge and passion.
Being exit ready involves passing that knowledge and passion on to others and anticipating a change of management, whether or not it is also a change of ownership depends on the particular circumstances.
When implemented properly, a robust succession plan will ensure the ongoing viability of the business and increase the potential returns to the owners.
For information on how Endeavour Capital assists businesses with succession planning, please click here.