Succession Planning Prepare Your Business

Succession Planning: Prepare Your Business

Most business owners focus on the day-to-day running of their business, with an outlook for growth in the future. But, what many forget to consider is the unexpected circumstance of falling ill or even dying before their time. It is not particularly pleasant to think about, but as a business owner, it is necessary to ensure the smooth running of your business after your passing.

At Gilbro Group LLP, we offer solutions ranging from estate planning to power of attorney arrangements, taking away the stress from your succession planning. Should a problem of this nature occur, your business can carry on without interruption with our support.

Please keep reading to learn more about the support we can offer you and your business in succession planning.

Stakeholder Engagement

When succession planning for your business, you more than likely will need to incorporate stakeholders. With stakeholders on board, your business must have an effective strategic planning process to succeed. 

When these robust plans are produced with stakeholder engagement, your business will consequently adopt the stakeholder’s needs as company goals. Here at Gilbro Group LLP, we can help your business with its strategic planning and stakeholder consultation; working in partnership with you to build and support ongoing engagement, as well as easing the process of implementing these plans.

Disaster Planning for Businesses

No one can predict disasters, but this does not mean your business can’t plan for them. Preparing for the worst ensures that if something does happen, your business will not be negatively affected. 

Those responsible for managing these emergencies need proven solutions that they can rely upon within damage control. Gilbro Group LLP has years of experience implementing these strategies; and, can help give your business and team the relevant succession planning support to help your business overcome and recover from its disaster.

Wills and Estate Planning

No matter what your age, it is crucial to have a will in place when you are the owner of a business. It is becoming far more common for people to create a will as a young adult and ament their wishes throughout their life.

Estate planning goes far beyond a will and is a complete set of documents considered to be your last will, a Lasting Power of Attorney for property and financial affairs, a Lasting Power of Attorney for help and welfare, and an Advance Directive.

We understand creating a will and estate planning can be complex and challenging processes to complete. This is why, at Gilbro Group LLP, we are here to help advise and complete all the relevant paperwork needed to give your estate security in the future.

Lasting Power of Attorney (LPA) and Power of Attorney for Business Owners also future proof your organisation in the event you as a business owner are unable to make decisions concerning your business. Here, an LPA would allow the business owner to appoint a suitable attorney to decide on their behalf.

However, choosing a business attorney is not a simple process, as many factors need to be considered. Gilbro Group LLP can support you with a team of experts who can advise you on how best to select an appropriate business attorney, as well as guiding you through the process.

There are more ways in which we can support your business with succession planning. Head over to our website to learn more about cross-option and buy/sell agreements, or there is also the option of restructuring if you think these are more suited to your needs.

At Gilbro Group LLP, we are dedicated to supporting your business to ensure a smooth transition of power, project management, succession planning and much more. Please look at our website to find out more about the services we offer businesses of all sizes. No matter your needs, we are here to help guide your business to a more prosperous future.

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