Pass your business on to family members or employees
As your business reaches maturity you may find it starts to become an unwelcome tie, stopping you from doing the things that you prefer to do such as playing golf, foreign holidays and spending time with friends and family.
You could sell the business, which should give you a cash lump sum, but is there a better way? We like to think so, and this is why we designed our Income and Share Ownership Planning (ISOP) service. This enables you to share the burden of ownership and running of the business with your key team members, and the planning can continue to give you future income throughout your retirement.
If you’re planning for success, plan for succession
An effective succession plan is not merely a guide for business owners. Yes, of course it makes sure that the company will move forward with a solid management team and a clear ownership structure.
But it’s much more than that. It preserves one of the greatest assets of any business — its people. It can help business owners attract and motivate successful employees. And it offers stability to lenders, investors, suppliers, vendors and customers. Partly because effective succession planning can serve as a powerful hiring and retention tool, it can also help you grow the business and give you an edge over the competition.
How do you create an effective succession plan? The answer lies in ISOP – our Income and Share Ownership Planning process.