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Private or family-owned businesses may benefit further by preserving harmony within the family. This principle is applicable to all private, owner-managed, or family-owned businesses, regardless of what business vehicle has been adopted, e.g., sole trader, partnership, or limited company.
TWM’s Corporate solicitors understand the complexities involved in transitioning your business to the next generation or new ownership. With our expertise and personalised approach, we help you navigate the legal intricacies to ensure a smooth and successful succession process, including the following exit steps:
Succession planning requires a strategic, long-term approach and, so that it can be done successfully, it needs to be an integral part of a business’ strategy and operations long before any anticipated exit. With advanced planning and professional advice, you will be better placed to achieve both personal and business goals.
If succession planning within a family-run business involves transferring the business to family members, rather than to third parties or another form of exit from the business, the earlier you start to plan the better. We recommend you engage the assistance of a qualified professional advisor at least 5 years prior to the anticipated exit.
Our specialist Corporate team has extensive experience in advising clients on business portfolios, how to best structure an exit and facilitate the continued growth of a business even after exit.
We are experts in helping businesses of all sizes and in all markets, providing practical advice that is bespoke to your business needs. We will work alongside our colleagues in TWM’s Private Client department to provide a holistic approach to your family succession planning, including tax planning advice.
For more information on our corporate services, please contact David Powell, Partner and Head of Business Law.
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Thank you for contacting TWM Solicitors, your completed form has been sent successfully. If this is an enquiry we are able to assist with, one of our team will be in contact with you as soon as possible. Please note, this may not be until the next working day, and during business hours. If you require urgent assistance, please call: 0330 555 0440.