Succession Planning and Exit Strategies

Succession Planning and Exit Strategies involve preparing for the transfer of leadership or ownership in a business. Succession planning ensures that a qualified individual is ready to take over key roles when current leaders or owners retire, resign, or pass away, helping maintain business continuity. Exit strategies are plans for business owners to sell, transfer, or close their business, such as selling to a third party, passing it on to family, or merging with another company. Both strategies aim to ensure a smooth transition, protect the business’s value, and maximize financial returns.