Knightsbridge - Robertson Surrette

Succession planning for Family Businesses usually starts with tax and estate planning but there are often ‘soft’ issues that get in the way. For example, family business owners struggle with decisions such as:

• Who within my family wants to and is capable of taking over the business?
• How do I do what is right for the business and fair to my children?
• What will I do when I leave the business?
• How will I know it’s the right time to transition?

Ideally, you should start planning how you will make your exit from the family business years before you intend to leave. This will ensure you have plenty of time to address the lifestyle issues that are critical to successful succession and all of the emotion that goes along with considering the transition from one stage of life to another.

Knightsbridge Robertson Surrette has been coaching individuals and businesses to deal with the ‘soft’ issues in business for over 30 years. Every family business and every business owner is unique, so there are no standard formulas or processes you can follow to successfully exit your company. Yet there are a few suggestions you can consider to address your lifestyle issues and develop a plan that is right for you, your business and the new leader.

Anna Stuart and Joe Moore are Partners with Knightsbridge Robertson Surrette and specialize in succession planning for Family Businesses. Anna has provided recruitment, strategic and operational advisory services to governments, industries and family businesses throughout Atlantic Canada. Joe has been providing career guidance, financial counselling and retirement planning advice to Knightsbridge Robertson Surrette clients for over 18 years.

To find out more information or discuss succession planning for Family Businesses, contact Anna Stuart at (902) 424-1144 or by e-mail at astuart@kbrs.ca or Joe Moore at (902) 424-1101 or by e-mail at jmoore@kbrs.ca