Small Business Succession Planning – Are You Prepared?
Growing Your Business In The 21st century
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December 15, 2007Statistics show that only around one quarter of small businesses take succession planning seriously. Now there is a Federal Government Small Business Succession Planning program – a nationwide awareness-raising initiative, aimed at helping small businesses identify and address the critical factors involved in effective succession planning.
Good business succession planning helps:
- Maximise the value of your business.
- Unlock that value by enhancing the marketability of your business.
- Exit your business with maximum profitability and the foundations laid for its continued success.
This preparation to hand over control of a business, also referred to as business transition planning has been developed by Ernst & Young Australia. It includes:
- Evaluating Your Position
- Setting Your Goals
- Planning Your Strategy
- Changing Leadership
- Exiting From Ownership
- Funding Your Retirement
- Managing Your Succession Plan
- Ready For Succession
- Seminars
For further info you can call 1800 048 855 or email sbsp.administrator@au.ey.com
The Small Business Succession Planning program is an initiative of the ‘Building Entrepreneurship in Small Business Program’
1 Comment
It’s great to see that the Federal Government is getting involved and is actively bringing this issue to peoples attention.