Passing the Baton of
Family Business Ownership.
Many New Zealand family business owners are running out of time to
‘pass the baton of business ownership’ ensuring that value is maximised and family relationships are preserved.
A successful change of family business control or ownership requires preparation including thoughtful selection of advisors, careful determination of who the likely successor may be (family member or a external party), thorough planning to ensure that policies, procedures, external contracts and operational systems are ready for transfer of ownership and determining a timeframe.
Put simply, "if you fail to plan, you plan to fail".
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