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❶Disposal selling the business is the best option if there is a need to raise cash perhaps to fund retirement , an absence of successor or the family has no desire to continue its involvement in the business.

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Business Succession Planning Options. Management buy-out. Liquidation of the company is not usually considered an alternative in succession planning because the business ceases operation. Thus, no one succeeds the owner in running the business. Sometimes, though, liquidation of the assets is the best way for the owner to get the highest.

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Proper business succession planning requires careful preparation, by creating a succession plan you'll help make sure the business you built thrives. which they must use to buy out the.

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Aug 28,  · Step 3: Establish the Succession Plan Identify successors – both managers of the company and owners of the business. Identify active and non-active roles for all family members. Succession planning involves transferring ownership and control of a business to new management. The three main options are: transferring ownership to a family member, transferring ownership to a non-family member or disposing of the business through a sale, management buy-out, management buy-in or voluntary liquidation.

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Succession planning is about taking control of the inevitable. Eventually, every business owner will leave the business. A management buyout can be a very satisfying and practical way for an owner to exit their business. Business owners don't consciously choose this option, but if you have not come up with a plan for succession, however rudimentary, you are in fact doing nothing. Do you have a will? Do you have a disability plan that involves business continuation?