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50 Sense - Succession Planning

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New research carried out by the Business Growth Programme (BGP) at Cranfield School of Management shows that of 171 small to medium enterprises (SMEs) surveyed, 54% of the owner-managers were over 50.

At Clarion, we have a highly regarded Corporate Team and a Private Client Team that is ranked as one of three top firms in Leeds and the surrounding area by the Chambers & Partners legal guide. This places us is an enviable position to be able to provide seamless advice to business owner-managers who, when approaching their mid to late fifties, will typically be beginning to think about business succession and personal estate planning. Advance planning on these matters can help to ensure the smooth succession of business and personal assets to the next generation. As well as peace of mind and tax efficiency, effective planning can also free up these valued clients to enjoy the benefit of their successful businesses!

Other key findings of the research are that the SMEs surveyed have created jobs at a rate of over seven times faster than that of the UK economy and that the average forecast for revenue growth over the coming year is 22% and that for profit growth is 29%, against predicted UK GDP growth of 3.6% This is all good news as it reflects the robust health of the entrepreneurial market and the recovery of the economy generally.

If you think that you would benefit from some advice about any aspect of business succession, personal estate planning, corporate, commercial or employment issues then do not hesitate to contact us for an initial chat about how we can help - enquiries@clarionsolicitors.com. 


 

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