Nobody likes to think about it, but it's inevitable that one day you'll leave your business. Whether you decide to sell up, retire or leave due to health reasons, it's important that you plan for that day. A succession (or exit) plan outlines who will take over your business when you leave.
A good succession plan will help your business transition smoothly to the new owner. By planning your exit early, you can maximise the value of your business and help it to meet future needs.
Make sure your succession plan is achievable. Set a realistic timetable and measurable milestones along the way and stick to them.
Jeffkins Accountancy - Melton Accoutnants & Small business advisors have experience with succession planning and understanding of the factors that need to be consdiered and implemented so that when this time comes it can be a smooth and easy process for all parties ensuring the right result is acheived. We understand that your business has sentimental value to you and strive to make sure that your legacy can continue on after your exit.