A recent global research study by Baker Tilly Ryan Glennon takes a closer look at both the sociological and economic implications for the family business succession process. The results from 1,650 business owners across 55 countries provide businesses with a common sense, practical guide on how they should view and conduct the succession process.  

The eight principles of succession are:-

1. Succession is not retirement
2. Start with readiness
3. Set your goals before the journey
4. Price is not first
5. Harmony is a must
6. Plan early, start earlier
7. Equality of not equal
8. Ask before you get lost

For more findings click here

With the kind permission of Suzanne O'Neill, Tax Partner, Baker Tilly Ryan Glennon.