Tim Livingstone explains why every business should have a succession plan in place and what business owners should consider when developing one. Although studies show that businesses with succession plans experience higher growth and have a higher survival rate than those without, over half of New Zealand SMEs don’t have any succession plan in place.
Here at UHY Haines Norton we are often asked about wider personal financial planning issues as our clients start to think about their transition into retirement. Authorised Financial Adviser (AFA) Simon Stredder from Hassan & Associates will address some of these issues along with financial issues affecting business owners and others who are thinking about
While small- to medium-sized businesses make up a large and thriving part of New Zealand’s economy, statistics indicate that the majority of SMEs are missing a vital part of business strategy: an exit plan. Research such as that conducted by the MYOB Business Monitor finds that less than 40% of small- to medium-sized businesses have
Some Facts Baby Boomers are the generation born between 1946 to 1964 They will start to reach 65 years of age from 2011 By 2020 20% of small business owners will be over 65 years old 97% of businesses in New Zealand employ fewer than 19 people 89% of businesses in New Zealand employ fewer
It is not unusual, after spending many years operating at the “coal face” building and developing a successful business, for the owner to feel as though they have had enough of the day-to-day operating grind and that they have run out of energy and ideas to take the business to the next level. Equally though,