shaw gibbs - accountants and business advisers
accountants & business advisers

Article

How do I plan for succession?

Article

How do I plan for succession?

23 Feb 2021

1 minute read

A single business owner can limit the value of the business where the knowledge of suppliers, internal procedures and clients sits solely with them. As a consequence, the value of the business may only be worth the liquidated value of the tangible assets.

How do I plan for succession? - news article image

A single business owner can limit the value of the business where the knowledge of suppliers, internal procedures and clients sits solely with them. As a consequence, the value of the business may only be worth the liquidated value of the tangible assets. 

Knowledge should be passed on to the successor or, shared with senior management teams to ensure that the business can succeed and realise value on sale. 

Whichever the choice of successor, careful planning to manage the succession is required. Shareholders agreements are useful in this process and can detail how long the shares are to be held by your successor and who can make any future decisions on the sale of them.

See our other Big Questions here

Author:

Peter O'Connell

Chief Executive Officer

Related content

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

Author:

Peter O'Connell

Chief Executive Officer

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

news article image

Shaw Gibbs appoints Sharmini Woodings as Regional Managing Partner

Shaw Gibbs is pleased to announce the appointment of Sharmini Woodings as the Regional Managing Partner for the Surrey/Hampshire region.

20 Nov 2023

news article image

Shaw Gibbs open Basingstoke office

The team will be led by Corporate Tax Partner Tim Smith alongside Jo Gibbons, Personal Tax Partner. They bring with them an abundance of Corporate Tax, Personal Tax, Accounts and Outsourcing experience after operating in the Basingstoke and surrounding area for numerous years.

3 Apr 2023

news article image

Shaw Gibbs join forces with Wise & Co

Top 100 accountancy practice Shaw Gibbs are pleased to announce the acquisition of the business of Wise & Co chartered accountants and business advisers.

31 Mar 2023

What our clients say

  • I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    Richard Preston

  • Thank you for being such a great partner in building our business!

    Thank you for being such a great partner in building our business!

    Oege de Moor - CEO, Semmle

  • Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Charles Parry – John Parry Estates Ltd

  • Shaw Gibbs’ service provides timely expertise at a reasonable cost

    Shaw Gibbs’ service provides timely expertise at a reasonable cost

    OATS Limited

© 2024 Shaw Gibbs Ltd

Your registration