Navigating business transition to the Next Generation
Passing a business to the next generation is about more than just profit – it’s about preserving a legacy. But it’s still a financial transaction. There can be advantages of passing it someone closer to home, like stability and safeguarding next generation career prospects. But there could be challenges too, including capital constraints, tax implications and family discord. Russell Prior, Managing Director and Regional Head of Family Governance, Family Office Advisory & Philanthropy, HSBC Private Banking in EMEA, and Andra Ilie, Senior Adviser, Family Governance, Family Office Advisory & Philanthropy, HSBC Private Banking in EMEA, help you shape a solid succession plan.
Exploring the key issues in business transition to the Next Generation
Passing on your business within the family
In a feature-length episode, we look at how passing on a business within a family can enhance an existing legacy (or create a new one). However, if managed incorrectly, it can undo a lifetime’s (or even generations of) achievement. Our expert panel tackles this emotive subject: How soon should you involve the next generation in your business? When is it appropriate to bring in external management? Have you considered the culture of the business and how it might change?
Planning your personal future
In a feature-length episode, we discuss how to plan for your personal future. With inspirational insights from our panel of experts, we cover why you should think ahead to life after a sale, and how to find where your passions lie. From Angel Investing to Trusteeships, our webinar gives you scope to plan your future self and set yourself up for a rewarding next chapter.
Philanthropy
In a feature-length episode, we examine the why, what and how of philanthropy, and share ideas on how you can harness your passions and motivations in a philanthropic direction of your choosing. Some business owners have a clear view of what they want to achieve with their philanthropy after a business exit, yet for others it’s a completely new and exciting challenge.
Beyond Business Ownership series
Is Timing Everything?
If you want to speak to someone about business exit issues or transition, you can get in touch