Planning for the day after
Article looking at how to help business-owner clients with their succession plans. It notes that the conversation should extend to the key people considered a part of the continuity. It adds that funding and format also play a major role, with the primary tools for funding being cash in the possession of the surviving owners, life insurance, or an instalment buyout.
Succeed at succession
How to approach your succession planning and grow the bench strength from within. The article argues that firms need to create a culture of leadership development and be clear about why they are doing succession planning.
Discusses the value of considering employee stock ownership plans (ESOP) in succession planning. Topics covered include the structure and tax advantages of ESOP.
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