Succession Planning
A strategic and proactive approach to business structuring and succession planning is vital for private, owner-managed or family-owned businesses.
Effective structuring and succession planning will support you to grow your business, enjoy tax efficiencies, protect your assets and minimise risk and the cost of compliance.
At Moore Australia, we guide you through the succession planning process, helping you to identify the right solution for your business and put plans in place to facilitate a smooth transition to your desired end state. We work with you to identify an entity structure and succession plan that will ensure a smooth transition and preserve your business’s value.
We understand that for many business owners, succession planning is a deeply personal and emotionally challenging endeavour. We take the time to understand what’s important to you and partner with you to develop a tailored succession plan that preserves your business’s value and future growth potential while meeting your personal goals.
Whatever your succession timeline, we can support you with strategic thinking, expertise and independent advice.
How can we help
- Assess the current situation. Our business advisors can conduct a comprehensive analysis of the business, including its financial health, operations, workforce, and other key factors.
- Identifying potential successors. We can help identify potential successors, whether they are family members, current employees, or external candidates. Our team are also experienced in helping evaluate qualifications, experience, and potential of candidates.
- Develop a succession plan. A comprehensive succession plan outlines the steps needed to ensure a smooth transition of leadership and should include details on roles and responsibilities, timelines, training and development, and communication strategies.
- Implement the plan. Business advisors can also help implement the succession plan by working with you and potential successors to ensure they understand their roles and responsibilities. We can also help with training and development and ensure that the plan is regularly reviewed and updated.
- Facilitate communication. We understand the range of issues that impact businesses and can help you to understand the implications of the decisions you’re making. We can help ensure everyone is informed and involved during the process and address any questions or concerns.
Overall, business advisors can play a critical role in ensuring a smooth and successful transition of leadership in a business. They bring expertise, experience, and an objective perspective to the process, and can help ensure that the business is well-prepared for the future.