Rogerson Kenny Business Accountants Melbourne

Business Succession Planning

To ensure the long term success of your business, it is critical to establish a well designed business succession plan. An effective business succession plan should cooridinate the transition of your business to your successors smoothly. This is one of the most critical issues in small & medium business and something for all business owners to consider.

What would happen to your business right now if:

you were unable to perform your normal duties?
you were hit by "the bus"?

If the above occured who would:

take over the business?
who know the secrets of your business - the formulas, recepies, deals etc (the 11 herbs and spices)?
how would the bills be paid?
what would the bank do with the loan? Would they call it in?

Some key questions that need to be answered include:

has the principal written out a set of instructions on what should happen to the business if something should happen to him/her?
has this lift been given to a Solicitor or placed somewhere safe where it will be found if something happens to the principal?
has adequate insurance been effected on the life of the principal and on the life of any partners in the business?
if a Partnership or a Company with outside shareholders, has a formal "Buy/Sell Agreement" been entered into?

The key is, Business Succession Planning must occur now to be effective. Rogerson Kenny Business Accountants urges you to act on this matter.

Business Succession Planning Booklets

These succession planning booklets are provide free of charge to our clients.

Please click on one of the below links to see the index page of the particular succession planning booklet - this should provide a good snapshot of the content provided.

We apologise that we cannot provide these succession planning booklets for free download to everyone, however please contact us if you would like to receive any one of these booklets in full.

Booklet 50.50 - Succession Planning - Why it is Necessary