Arranging your succession is a unique challenge. Do you want to keep the business in the family, or would selling to an external partner or a management buy-out make more sense?

However, selling up is not always the best move. Often the ideal solution is to find someone with an entrepreneurial mindset and the skills to manage the business, and so build on the life’s work of its founder.

It is therefore wise to address the issue of succession planning at an early stage, particularly with a view to realizing your personal and financial goals.