Succession Planning: Not Just for Big Companies

Why Succession Planning
Matters Now

Many business owners
delay succession planning because it feels too early or too complex. But
waiting until you must make a decision can limit your options and
increase the risk of disruption.

·       
A well-thought-out
succession strategy can help you:

·       
Maintain continuity in
case of unexpected events

·       
Prepare internal
successors or new leadership

·       
Increase your
business’s value in a future sale

·       
Reduce tax liabilities
through proper planning

·       
Exit on your own terms financially
and emotionally

What Should Be in Your
Succession Toolkit?

Succession planning
isn’t one-size-fits-all. Depending on your goals, it could involve:

·       
Handing the business to
a family member or long-time employee

·       
Selling to a third
party or via a management buyout

·       
Phasing into
semi-retirement with trusted leadership in place

·       
Closing the business
and extracting value efficiently

For business owners
looking to close a solvent company, one powerful option is a Members’ Voluntary
Liquidation (MVL).

What Is an MVL – and
When Is It Useful?

A Members’ Voluntary
Liquidation is a formal process used to close a solvent company and distribute
its assets to shareholders in a tax-efficient way.

It’s especially useful
if:

·       
You’re retiring and no
longer need the company

·       
You’re selling the
business assets and winding up the limited company

·       
You have significant
retained profits you want to extract efficiently

An MVL isn’t just for big companies with big
exits – it can be a smart, cost-effective strategy for everyday business owners
who’ve built up value over time.

Looking Ahead

If
you’d like a confidential conversation about your next steps, we’re here to
help!

You can contact our friendly and experienced
team on 01603 552028 or email us at [email protected].