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

Managing Partner

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

Managing Partner

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

Autumn Budget 2021

Post-Covid age of optimism. After a ‘leaky week’, speculation was that there would be nothing new in the Autumn Budget aside from Sunak’s fondness for socks with sliders. Rishi opened his Budget speech with the news that the OBR is predicting a speedier recovery to pre-Covid levels.

29 Oct 2021

news article image

Our approach to flexible working

Over the past few months, in anticipation of social distancing measures being removed from July, and with the benefit of 16 months experience of home working, we have revised our flexible working policy and added in more agility. The aim is to try and take the best bits of both home and office working and ensure our teams benefit from both.

13 Jul 2021

news article image

Where do I get business advice from?

You should have a group of advisers to seek counsel from outside of the company whether this is a formal arrangement with your accountant or a group of peers who you can share ideas and bring a diversified experience to the table.

19 Feb 2021

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

© 2023 Shaw Gibbs Ltd

Your registration