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Passing on your Business

Successful succession isn’t an event, it’s a process. We can support you to develop and implement a succession plan that allows your family to tackle the needs of the business and the interests of family members.

Transition in a family-owned business is a challenging, multi-dimensional procedure. Forty percent of all family businesses will change hands within the next five years1.

Owners need to prepare thoroughly to ensure a successful transition. Taking the right approach will make all the difference not just for their family and businesses, but for their communities and the larger economy as well.

We’ve seen business transformation over many decades and across geographies. Our experience helps us understand the foundations for success: effective and early dialogue with all stakeholders and using the right words at the right times can increase the likelihood of successful transition.

Business families considering succession typically have three main concerns:

  • How to ensure the continued success of their business.
  • The impact of the transition on family members, whether they take on active roles or not.
  • How the big decisions will be made, and by whom.

These issues are interdependent, and we can help you find the right balance.

We don’t view succession as a single event. It’s a process. And breaking down your approach into management, ownership and governance transition can be a useful way to frame the process from the perspectives of all stakeholders, both inside and outside the family.

Entrepreneur Series: An interview with Charles de Bournet Watch the video An interview with Charles de Bournet
Vintner Charles de Bournet describes what it's like to be the seventh generation running his families wine business.
Taking it on. Building it up. Handing it over. Letting it go. Take it a step at a time.

We can help you reach the best outcome by working with you to develop your transition strategy. We cover the important areas including family governance and family enterprise succession, wealth structuring, investment management, and next generation planning to secure your wider legacy.

We also offer advice on solutions to a broad range of wealth planning needs, including trusts, insurance arrangements, foundations and corporate structures. Our presence in multiple jurisdictions enables us to deliver solutions that can be tailored to your specific local requirements as well as meeting the needs of international families.

Our work with business owners all over the world means we understand entrepreneurs and their vision for wealth. As their partner, we help them grow, manage and preserve their wealth effectively.

1HSBC Private Banking Essence of Enterprise Report 2017

Please contact us to receive The Guide to Passing on your Business and to learn more about the ways we can support you as you transition your business.

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