Exit & Succession Planning

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When you first set out in business, exit and succession planning are unlikely to be uppermost in your mind! It’s unusual to be clear on your preferred exit route, or the succession path, though it would often be hugely beneficial.

It’s more usual that over time the thought of exit occurs and the route becomes clear.

We can help with the process of clarifying any exit and succession planning options and facilitate the discussions necessary for all parties to come to a shared and equitable conclusion.

There are many options for exit, amongst them:

  • Sale
  • Closure
  • Transition, perhaps to a younger generation or suitable staff

Each has a unique set of considerations which can range from training and development to the gradual ‘easing out’ of the older generation, an extremely sensitive subject for all involved.

If the decision is to go for sale, it can be worth taking time before going to the market to ensure the business is in the most appealing situation to maximise the eventual price.

This doesn’t necessarily mean it will be generating the most cash, as there are many other factors that can affect the final sale value. It could be to ensure the processes and incumbent staff are able to run the business in the same way without the owners in place.

Where there is no obvious successor, it can be an interesting process to consider who within the business could take over and to look at development or training that may be needed for them to do so.

This route can often be the most beneficial way and cause the least upheaval within the business; it’s a route we have taken in the past. With our first business, taking over at the point of the original Principal’s retirement resulted in a very smooth transition and little impact on the client base other than a new logo. This is particularly appealing if service levels and the day to day contacts that customers will deal with remain consistent.

The most common decision is to maintain a balance between more than one option, and slowly identify the preferred route; we can help maintain this balance whilst a potential successor or purchaser can be found, and a decision as to the preferred option crystallises. We’ve helped a number of long standing clients through the process, dealing with the subsequent sale process as necessary.

We also have first-hand experience of the process of purchase and sale, so appreciate how it feels to be on the other side of the fence!

If you’re unsure of your preferred exit route and would like to discuss how the various options may affect your plans for the future, please contact us for an initial discussion.

Related Info

Business Finance

Visit the Business Finance section of our Info Centre for more information about finance options and considerations.

Business Plans & Cash Flow Forecasts

Sound plans bring confidence and better sleep! Read on to find out more about the benefits, the processes and how we can help.


Sometimes it feels that our industry has its own language! Here are our translations…

Can I just say we are so pleased that we have moved to Baranov Associates. As we discussed when you visited, we had to find a way to take the stress out of all of the financials and you’re doing that for us! We can see how to use Xero more efficiently and so with us being as on top of it as we can be and with you and Liz we feel a lot more confident about our business being in good shape.

Mrs S James, Sandbanks Capital Partners Limited

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