Tomorrow’s World: Keeping it in the family?

Family businesses have particular challenges when it comes to succession planning – but many of these challenges are just the same for any business.

Exit strategies are seldom at the forefront of business planning – but arguably they should be.

Passing on the business to a family member or to the management team, selling it outright, or shutting up shop completely are all options – but how do you manage the process and how do you value your business?  What value is there in your experience and know-how?

At this Service Network event Paul Duncan and Graham Cornforth from Haines Watts will join us to explain the importance of getting the right advice at the right time and why it’s never too early to start planning your exit.

They will discuss:

• The different succession options and the pros and cons of each option. 
• Business valuations in relation to the different succession options.
• Tax planning and the opportunities for business owners to minimise the tax burden with reference to issues around transfer of ownership. 
• Extracting and preserving family wealth from a business.

We will then be joined by market research business owner, David Shiel from Explain and Michael Dickson from the butchers, MI Dickson who will both share with us the succession plans for their own businesses and why they have opted to go down the paths they have chosen.

Cost: Free to Service Network members, £35 + VAT to non members.

To avoid a cancellation fee of £35 + VAT please inform the Service Network team in writing at least 48 hours before the event if you register but can no longer attend.