Business succession
You get to benefit from our training, our experience, our willingness to engage in continuous professional development and our approach to tax and business consulting – a competent network of advisory services from a single source.
According to the statistics available, the next few years will see thousands of business transfers. In addition to personal inquiries and questions relating to succession law, labour law, tenancy law and liability, tax barriers will also be a source of concern. Business succession needs to stay affordable.
Business successions are generally a critical juncture in the overall operating structure. You need to let go on the one hand while company management must be allowed to continue unhindered and without delay. Despite this, business successions are frequently rushed, and the consequences are only rarely considered in all their detail. Effectively organising a business succession means assessing all the alternatives early on in the initial stage. For this purpose, we like to organise a 'reorganisation brainstorming' where all the relevant aspects are explored using a catalogue of question that we have prepared:
- Identification of all stakeholders: Have all the stakeholders been identified? What interests and objectives are these parties pursuing?
- In particular, the reasons for a business succession need to be carefully examined: saving taxes is usually not the only motivation to change a company's structure. Liability concerns, issues relating to the transition from one generation to the next, pension plans, issues under civil law need to be addressed.
- An exact timetable must be established that also leaves enough leeway for new considerations and alternatives. The most serious mistakes are made in the last mile! A good succession plan requires 1 to 3 years of lead time.
- Formation of the team that will facilitate the succession and/or the change in legal form. The large number of people that will be involved requires extensive coordination. A well-organised brainstorming session will usually eliminate many of the uncertainties early on, preventing rushed choices.
- Having a discussion in time on the occasion of the annual presentation of the financial statements - It's never early enough to start talking things over.
Our services
- Timely recommendation to start the process
- Advice when the occasion arises
- Comprehensive information
- Brainstorming
- Target agreement
- Definition of the team
- Timetable
- Development of alternatives and future scenarios
- Business plan in correlation with detailed plans
- Process facilitation and process coordination
- Support