The latest Red Kite Law 'The Business Brief' column
.jpg)
Succession planning is something that many businesses do not consider until things start going wrong, such as the ill health of the owners.
In today’s economic climate, with huge uncertainties facing businesses of all sizes, succession planning is essential to safeguard continuity and the livelihood of employees.
It is vital to plan a business succession strategy that works for everyone involved.
Succession planning should be considered carefully by business owners as a means of allowing the business to continue when the owners retire, or in the event of unforeseen circumstances such as illness or death.
With some careful thought and planning, you can create plans to deal with these circumstances.
Succession planning can also benefit the current trading of the business.
Talking about money should be a priority for all businesses.
A succession plan can provide answers and a degree of certainty to family members and staff about the future.
Succession planning does not need to be a stressful matter.
You can address issues by including colleagues and giving them the opportunity to voice their opinions.
This is especially true in family businesses.
Planning for the future can be an exciting time, whether it is in your personal or business life.
By starting your succession planning now rather than later, you can lift the spirits of the whole business by giving people a firm idea of the future plans of the business.
We will be holding a ‘Succession Planning Seminar’ on Friday, March 23 at The Bridge Innovation Centre (BIC) in Pembroke Dock.
There will be talks from our specialist corporate and tax planning lawyers, as well as from Sian Bushell Associates, Wales Co-operative Centre and Pembrokeshire Business Initiative.
For more information on the seminar or advice on any company/commercial related issue please contact Betsan Powell, Company/Commercial Partner, on 01646 689332 or at betsan.powell@redkitelaw.co.uk
The seminar follows an earlier successful commercial networking and briefing event staged at the BIC by Red Kite Law and Finance Wales.
The event was the first of its kind to be held at the BIC, the former Technium building overlooking Cleddau Bridge.
Red Kite Law’s Betsan Powell said: “It was a major feather in our cap as we have just moved our legal firm’s Pembrokeshire commercial department into new offices at the state-of-the-art BIC.”
Notes:
Betsan Powell joined Red Kite Law as a partner in October 2010 after five years as partner at M&A Solicitors in Cardiff.
As a company and commercial specialist with more than 12 years experience gained in commercial firms in London, Bristol and Cardiff, Betsan has extensive experience in a wide range of corporate matters including share sale and purchase agreements, business transfers, joint ventures, equity investments, shareholder agreements and management buy outs. She advises on transaction funding and stand alone debt facilities.
Betsan also advises on commercial contracts including terms and conditions, supply and distribution agreements, outsourcing agreements and franchising. She has drafted and advised on the implementation of share option schemes including Enterprise Management Incentive schemes.
Red Kite Law can be found on the internet on –
http://www.redkitelaw.co.uk
In today’s economic climate, with huge uncertainties facing businesses of all sizes, succession planning is essential to safeguard continuity and the livelihood of employees.
It is vital to plan a business succession strategy that works for everyone involved.
Succession planning should be considered carefully by business owners as a means of allowing the business to continue when the owners retire, or in the event of unforeseen circumstances such as illness or death.
With some careful thought and planning, you can create plans to deal with these circumstances.
Succession planning can also benefit the current trading of the business.
Talking about money should be a priority for all businesses.
A succession plan can provide answers and a degree of certainty to family members and staff about the future.
Succession planning does not need to be a stressful matter.
You can address issues by including colleagues and giving them the opportunity to voice their opinions.
This is especially true in family businesses.
Planning for the future can be an exciting time, whether it is in your personal or business life.
By starting your succession planning now rather than later, you can lift the spirits of the whole business by giving people a firm idea of the future plans of the business.
We will be holding a ‘Succession Planning Seminar’ on Friday, March 23 at The Bridge Innovation Centre (BIC) in Pembroke Dock.
There will be talks from our specialist corporate and tax planning lawyers, as well as from Sian Bushell Associates, Wales Co-operative Centre and Pembrokeshire Business Initiative.
For more information on the seminar or advice on any company/commercial related issue please contact Betsan Powell, Company/Commercial Partner, on 01646 689332 or at betsan.powell@redkitelaw.co.uk
The seminar follows an earlier successful commercial networking and briefing event staged at the BIC by Red Kite Law and Finance Wales.
The event was the first of its kind to be held at the BIC, the former Technium building overlooking Cleddau Bridge.
Red Kite Law’s Betsan Powell said: “It was a major feather in our cap as we have just moved our legal firm’s Pembrokeshire commercial department into new offices at the state-of-the-art BIC.”
Notes:
Betsan Powell joined Red Kite Law as a partner in October 2010 after five years as partner at M&A Solicitors in Cardiff.
As a company and commercial specialist with more than 12 years experience gained in commercial firms in London, Bristol and Cardiff, Betsan has extensive experience in a wide range of corporate matters including share sale and purchase agreements, business transfers, joint ventures, equity investments, shareholder agreements and management buy outs. She advises on transaction funding and stand alone debt facilities.
Betsan also advises on commercial contracts including terms and conditions, supply and distribution agreements, outsourcing agreements and franchising. She has drafted and advised on the implementation of share option schemes including Enterprise Management Incentive schemes.
Red Kite Law can be found on the internet on –
http://www.redkitelaw.co.uk
Comments