This is a major problem for many business owners currently operating in today’s market place. It is also one issue that is all too often forgotten about or not addressed in sufficient time.
If the current management team or members of the family are not capable or do not want to take on the business then the only option may be some type of business sale.
The most appropriate route will depend upon whether you have sufficient time to recruit a capable management team that have access to finance and that you are comfortable with.
Any available options require both detailed planning and sufficient time to implement the necessary changes.
The issue of succession cannot be considered too early.
