The contrast between the departure of Instagram’s co-founders last year and the Crown Prince of Japan’s ascension to the throne in May this year provides a clear example of the difference effective succession planning can make.
Succession planning isn’t an easy decision to make especially if you’ve built your business up from nothing. One of the many questions you might be asking yourself include, ‘have my successors instilled my winning company values?’
Too many family business owners don’t think of succession planning. Succession expert Rochelle Clark shares why that’s a problem.
The corporate and commercial team at Hillyer McKeown has found a common golden thread when it comes to family businesses: good planning means fewer arguments. Here’s guidance based on frequently asked questions from clients – such as ownership and how to protect your assets.
Real Business asks five leading entrepreneurs for their best piece of advice if selling your business is objective number one for 2018.
Family businesses are the mainstay of the UK economy, accounting for more than a third (36%) of employment, and generating over a quarter of UK GDP. But running a family business presents a unique set of challenges.
Around a third of family business leaders are not convinced younger generations are ready to step up and run the company when the time comes.
Hugh Jackman is now hanging up his adamantium claws, and there’s a few lessons we can learn from his experience.
Staff may forget this, but business owners are only human, and they too will sometimes have personal issues to deal with, while also trying to keep a company afloat.
Jan Cavelle continues her diary series, charting the decline of her manufacturing firm, by explaining how a succession plan was never really put in place.
Recent headlines encapsulate the tension between decisions made according to the family business agenda and those obligations which begin on incorporation and intensify with growth. To family firm owners this is an ever evolving scale and begs the question: at what point do the interests of external stakeholders take primacy?
A growing number of family business owners are opting to review succession plans in light of current Brexit uncertainty and how it might affect retirement planning. Facing such turbulence, open and honest communication between shareholders is vital and must be maintained.