Se­cret of long-term suc­cess in­cludes plan for suc­ces­sion

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» WIL­LANS LLP are le­gal ad­vis­ers to busi­nesses, in­di­vid­u­als, char­i­ties and not-for-profit or­gan­i­sa­tions based lo­cally, na­tion­ally and in­ter­na­tion­ally, and em­ploy around 80 peo­ple at their of­fices at Im­pe­rial Square, Chel­tenham.

Wil­lans helps fam­ily busi­nesses no mat­ter what their sit­u­a­tion or stage of their jour­ney, and are de­lighted to be spon­sor­ing the Fam­ily Busi­ness of the Year Award at the up­com­ing Glouces­ter­shire Busi­ness Awards.

The award celebrates com­pa­nies large and small across the county, in which found­ing fam­i­lies are still sig­nif­i­cantly in­volved.

AC­CORD­ING to re­search, nearly six out of 10 fam­ily busi­nesses in the UK don’t have a suc­ces­sion plan in place.

Just like mak­ing a will, it’s of­ten one of those tasks which is shelved for “some other time”, some­times un­til it’s too late.

How­ever, should a key direc­tor re­tire, or cru­cial per­son­nel sud­denly depart, how would your or­gan­i­sa­tion cope?

Lawyers from Wil­lans LLP will be shar­ing ad­vice on suc­ces­sion plan­ning for busi­nesses, from fam­ily-run and SMES to na­tional or­gan­i­sa­tions, at their Oc­to­ber break­fast brief­ing at Na­tional Star Col­lege, Ul­len­wood.

Em­ploy­ment law part­ner Matthew Clay­ton, cor­po­rate and com­mer­cial as­so­ciate So­phie Mar­tyn and wills, trusts and pro­bate as­so­ciate Rachel Sug­den will take del­e­gates through the pri­mary le­gal is­sues. They will re­veal how you can safe­guard the con­tin­ued smooth run­ning of your busi­ness should there be a change of per­son­nel or own­er­ship, whether planned or un­ex­pected.

They will be cov­er­ing top­ics such as the le­gal is­sues around re­tire­ment, pre­par­ing ju­nior staff for tak­ing on more re­spon­si­bil­ity, dif­fer­ent ways for in­tro­duc­ing eq­uity stakes for ex­ist­ing staff, bring­ing in new in­vestors, own­ers or man­age­ment team and pass­ing on busi­ness shares and as­sets in your will.

The sem­i­nar is aimed at busi­ness own­ers, man­ag­ing direc­tors, CEOS, HR and fi­nance direc­tors, and there will be op­por­tu­ni­ties for net­work­ing with fel­low del­e­gates be­fore and af­ter the ses­sion. Part­ner Matthew Clay­ton, speaker and head of the firm’s Le­gal 500-rated em­ploy­ment law di­vi­sion, pic­tured, com­mented: “It’s hard to over­es­ti­mate the im­por­tance of hav­ing a good suc­ces­sion plan in place, and it’s sur­pris­ing how many busi­nesses do not al­ready have one (par­tic­u­larly fam­i­lyrun op­er­a­tions and SMES). “Hav­ing a suc­ces­sion plan in place is key to achiev­ing a well-man­aged own­er­ship tran­si­tion – ben­e­fit­ing the em­ploy­ees, share­hold­ers and all who rely upon the smooth run­ning of the busi­ness.”

» The work­shop runs from 7.30am to 9am on Wed­nes­day, Oc­to­ber 2, and tick­ets cost £18.50, to in­clude a light break­fast. To book, please visit wil­lans. co.uk/events, call 01242 542931 or email [email protected]­lans.co.uk

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