PKF launches succession planning business
Chartered accountants and business advisory firm PKF has launched a new succession planning business.
The new business is intended to services “a whole generation of baby boomers, now into their 50s, who are set to retire over the course of the next decade”, according to PKF partner Andrew Kesik.
“Research has shown that less than 40 per cent of business owners in this demographic have any kind of ownership or management succession plan in place,” he said.
The new business will work with these business owners to develop a succession plan that effectively balances personal circumstances with the needs of the business, Kesik said.
“Succession issues need to be considered at a much earlier stage than most business owners may consider necessary, with many planned exit strategies requiring anywhere between one and three years.”
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