Succession Planning

When thinking about the future management and ownership of your family business, there are so many important and complex issues to consider, including:

  • Who are the stakeholders in your succession process – your business partner, your life partner, your family, your key staff?
  • In thinking about the future, would you prefer to see a continuation of family ownership and management, or are you open to selling the business, or introducing external management?
  • Are you ready, or close to being ready to start stepping back from the business, from both a financial and psychological perspective?
  • Is it your intention to sell or gift your shares in the business, and what are the financial, taxation and estate planning implications?
  • Are your proposed successors ready, willing and capable of assuming the responsibility of managing and/or owning the business?
  • How will the new managers and owners communicate and make decisions, and how will your ongoing skills and experience be retained?

SproutAg provides a comprehensive succession planning process designed to help family businesses, of all shapes and sizes, navigate this challenging journey. This process typically involves:

  • Undertaking an initial discovery exercise to understand the business and family background and dynamics.
  • Interviewing all stakeholders to ascertain their views, needs and aspirations in relation to the future management and ownership of the business.
  • Evaluating the pros, cons and implications of your various succession options.
  • Developing a detailed written succession plan and associated communication and decision making landscape.
  • Facilitating the long-term implementation of the agreed succession plan, over a defined timetable, in collaboration with experienced financial and legal advisers.
Map

OFFICE LOCATIONS

Yass NSW (Head Office)
77 Comur Street
Yass NSW 2582

Orange NSW
Suite 1, Level 1, 204-206 Lords Place
Orange NSW 2800

Dubbo, NSW
Unit 5, 113 Darling Street
Dubbo NSW 2830

Wagga Wagga, NSW
Suite 2, 53 Tompson Street
Wagga Wagga NSW 2650

Albury VIC
602 Olive Street
Albury NSW 2640

Tamworth Office, NSW
307 Peel Street
Tamworth NSW 2340

Longreach QLD
105 Eagle Street
Longreach QLD 4730

Hay, NSW
88 Lachlan Street
Hay NSW 2711

“Cannot recommend Sprout Ag enough for sorting out future plans, succession plans and identifying what roles there are and who is most suited!”

- Ross and Sophie Walters

“Cannot recommend Sprout Ag enough for sorting out future plans, succession plans and identifying what roles there are and who is most suited!”

- Ross and Sophie Walters

“Cannot recommend Sprout Ag enough for sorting out future plans, succession plans and identifying what roles there are and who is most suited!”

- Ross and Sophie Walters

GET IN TOUCH

icon-email Let's talk