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Succession, Retirement and Profitability Key Business Issues

Whilst remaining profitable is the top concern for family business owners, recent research published by Close Brothers Asset Management shows that four out of the top ten worries of those surveyed are related to succession planning, with provision for later life also being an important consideration.

All of these issues are ones that we can help with as solicitors.

Profitability can turn on having the right terms of trade in place, the right contracts of employment, not risking having invalid insurance and so on. A whole variety of procedural and compliance issues can affect profitability.

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    Retirement and succession issues tend to run together when planning for the future. By formulating a sensible plan and with appropriate preparation, we can help our clients to ensure their exit from their business is done in a way that protects their future livelihood to the maximum extent.

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    The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.