Advisely BoardSuccession Plan - Be honest ! How prepared are you?
Advisely BoardInteresting thoughts Darren.Smith as a business we are specifically targeting partnership and equity ownership from within our team and have developed a pathway to partnership model. The catelyst came when my now business partner joined me as a senior adviser and in the interview asked if this worked out he wanted the opportunity to buy in. We have then rolled this model out to our senior team and are about to embark on the next phase of smaller equity parcels via a separate unit trust.
- Darren.Smith
jenny.brown -Some great strategies that you have in place. Well done!
I think one of the challenges that many business owners face with internal successions is that as the business value increases, that the ability for younger or individuals is the capacity or desire to raise the capital needed to buy into the business at a meaningful level.
With our team we were able to faciliate almost 75% of staff had some equity participation which encouraged and rewarded them in taking an interest in the success of the business... Many different ways to structure and help others participate in the success of the business.
- deborah.kent
Well done Jenny its not an easy path to achieve this if you can that you have confidence in moving out of your business one day
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