It is estimated that there are currently over 5 million family-owned businesses in the UK for which, at some point, the owners will need to consider their succession planning.
There are a number of reasons why it’s important for a business owner to obtain an independent valuation opinion when formulating a succession plan.
Some business owners like the idea of taking control of their exit by exploring a management buyout or Employee Ownership Trust.
We explain how a share buyback works when the exit strategy requires the business is passed to family members rather than achieving a sale.
Despite the political turmoil, business owners are adapting their succession plans which are driven by age, business performance and other factors.