Succesion & Exit Planning Within Your Family Business

CONTINUITY

FAMILY BUSINESS CONSULTING 

US/CANADA: 877-925-5149 INTERNATIONAL: 1-978-925-5149

CONTINUITYFBC.COM

 

Transitioning a business from one generation to the next is probably the most difficult and complex process a family business will face.  It requires much thought, trust and planning. Developing next generation leaders, assuring that estate planning documents are both tax and succession friendly, evaluating the company’s financial ability to sustain succession and managing conflict and expectations within the family are all required for family businesses to achieve reliable successions between generations.

Continuity’s approach is highly collaborative and comprehensive. We work closely with estate planners, CPA’s, key non-family executives and family stakeholders both in and out of the business in order to develop a plan that works for both the company and the family. 

Succession planning is often delayed in a family business due to either active conflict or fear of conflict.  Continuity’s expertise in managing conflict when the continuing relationships are important is a crucial element of our succession planning work.

Exit planning is another aspect of family business Continuity works with. Sometimes it is appropriate for owners of a family business to consider selling the business.  If the business is sold due to unresolved conflict, insufficient planning or financial difficulties much can be lost in terms of both family relationships and potential missed business opportunities.  Continuity helps clients address these challenges and the ongoing concerns of next generation leadership. 

There are significant questions to be considered here.  What if there are no heirs that are interested?  What if the nature of the business requires that it be part of a larger, perhaps global, organization in order to thrive?  What if the opportunity to sell the business is just too good?  There may be many good and necessary reasons for selling a family owned business. 

Continuity’s depth of staff and resources can help owners evaluate the pros and cons of selling the business.  We help owners evaluate specific offers and, as appropriate, help them prepare the company for an optimal sale. 

If the company is to be sold, we help all family and non-family stakeholders understand and manage such a transition both personally and professionally.  We assist the family in re-defining itself from a business owning family to a family of wealth or a family with new opportunities. 

Selling the family business is one of the most important decisions that its owners make.  It is a decision that they make, perhaps, once in a lifetime.  Having a trusted advisor with no bias towards any particular outcome is extremely advantageous.

Contact Continuity Family Business Consulting at 877-925-5149 for more information on succession and exit planning.