Company succession

It is unavoidable. One day, you will have to hand over your company to the next generation. But it is not a casual handoff. The transfer of the company is a turning point in your life and is emotionally significant.

Such a major decision does not happen overnight. And that is as it should be. Serious choices need to be made. For example, you need to make a decision about the best possible procedure for ensuring continuity and about the various financing possibilities. These types of issues demand a great deal of preparation and thorough advice.

The professionals at Grant Thornton are happy to advise you with regard to this momentous process. For the succession of family businesses in particular, we have designed a unique approach. This approach focuses on twelve crucial focus areas. It is a step-by-step plan that, in consultation with numerous disciplines, works painstakingly to protect your company’s continuity. This is a fully comprehensive method aimed at effectuating a successful transfer, including guarantees for all those involved.

The method addresses the following focus areas:

• Handling succession planning
• Ensuring the effective arrangement of pensions and inheritance
• Shaping the remuneration structure of the family business
• Determining the division of shares among family members
• Supporting family members in the company
• Making arrangements for non-participating family members
• Drawing up strategic plans
• Appointing/compensating ‘non-family’ executives
• Advising on the choice of financial structure
• Seeing to asset management
• Resolving conflicts
• Helping reach a family agreement

Want to know more? For more information, contact us.