Future-Proof Your Business Succession Planning Australia Secrets
If you're looking to secure the future of your business and ensure a smooth transition when the time comes, understanding the secrets of business succession planning in Australia is crucial—browse options, search options, and see these options to make informed decisions that will safeguard your legacy.
Understanding Business Succession Planning
Business succession planning is the strategic process of identifying and preparing suitable individuals to take over a business when the current owner or key leaders retire, leave, or are otherwise unable to continue. This planning is not just about choosing a successor but ensuring the business remains viable and continues to thrive. In Australia, this process is particularly significant due to the country's high number of family-owned businesses, which account for around 70% of all businesses1.