Business Succession Planning
Cultivating enduring value
No one goes through the work, risk and sacrifice of starting a business without hoping it will last. Building value that endures is the dream that motivates entrepreneurs. Yet in many businesses, too little of that work goes into determining who will take over when the founders leave the stage.
For a business, working without a succession plan can invite disruption, uncertainty and conflict and endangers future competitiveness. For companies that are family-owned or controlled, the issue of succession also introduces deeply emotional personal issues and may widen the circle of stakeholders to include non-employee family members. That’s why we have created a series of papers to address these important issues.
Follow the series: Business succession planning
So what can a private companies do to get started and how should they address existing plans? The volumes in this series focus on the many considerations for private companies as they plan for business succession. Together, they create a library that can help business leaders identify and overcome the challenges that stand between them and an orderly transition of the management and ownership of their companies.
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|The need for planning
Many privately held businesses display solid professionalism and enviable profits in their daily operations, yet fail to properly plan for and complete the transition to the next generation of leaders. Learn more about strategic long-term planning in this first volume of our Business Succession Planning series.
|Establishing a foundation
For most public companies, the choice of an entity structure is fairly straightforward. But private companies have more choices and need to decide which structure is the right fit for their long-term goals. This volume focuses on how the choice of entity structure, valuation methods and financing options can impact business succession planning – and outcomes – for private businesses. Read more.
|Developing future leaders
Crystal ball – or succession plan? You can help shape your company’s future with actions you take today. Learn how management talent assessment, development and compensation planning can help you solidify the next generation of leadership for your company.
|Preserving personal and family wealth
Plans you make for your business can have significant and often surprising effects on the plans you make for yourself in retirement. Read how planning ahead for estate and gift taxes, life insurance and your investment portfolio can help you address family and business needs and meet your retirement goals.
|Volume 5||Family dynamics and governance
A thoughtfully governed family business can be a boon for everyone involved — not only in terms of wealth creation, but also in promoting harmony, personal fulfillment and shared purpose. Learn how to balance business needs and family concerns in order to create a
long-term governance plan that can help the business and family prosper together.
As used in this document, 'Deloitte' means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.Certain services may not be available to attest clients under the rules and regulations of public accounting.