Succession Plan Template and Guide
Planning for the day you leave your business is a valuable investment. Whether you decide to sell up, retire or have to get out of business due to health reasons, it's important that you spend the time with your family and/or your business partners and plan what you're going to do.
A good succession plan enables a smooth transition with less likelihood of disruption to operations. By planning your exit well in advance you can maximise the value of your business and enable it to meet future needs.
Create an succession plan that is attainable - this means setting a realistic timetable and measurable milestones along the way and sticking to them.
Download a copy
Our Succession Plan Template provides you with a sample structure and suggested contents to help guide you when preparing your own succession. It also includes examples and specific links to relevant websites for more information.
Regularly review your plan. As time passes your circumstances may change and having your succession plan up to date will ensure you are always ready in the event you need to leave earlier than anticipated.
What to do...
- Read our How do i write a succession plan? page to help you create your own based on the information in our template.
- Read our Exit section for practical advice on exiting a business and your legal obligations.
- Check our Event's to see if there are any seminars about succession planning.
- Read our Emergency Management and Recovery topic to prepare for unexpected emergencies and natural disasters.
- Contact your nearest Business Enterprise Centre for free advice and support.
- Get professional advice from a business adviser, accountant or solicitor.