When assessing the value of your firm, you might not be thinking about the impact that succession has on your business growth. But, in a people-based business, creating and keeping a succession plan in place can be vital to the success of your business.
You and your partners have worked hard to build up your client base. But what happens to these clients when you or one of your partners retires? Is there a plan in place to pass on client relationships and industry knowledge to the next generation? More importantly, do you have a plan to develop these up-and-comers? Your capabilities are tied up in your people, so you need to ensure that all your bases are covered when someone moves on.
At Grant Thornton, we can work with you to provide the best practical solutions to ensure the objectives of the firm are met. So, when you’re ready to start planning for the future of your firm, we’re ready to help.