Succession: Are you prepared?
Whatever you age or experience, there will come a time in every practitioner's life when you start planning for succession.
While there are various methods of handing over or selling your firm, including family takeover, selling internally to employees and sourcing other local companies, less traditional methods are emerging from the woodwork.
One is online. AccountingWEB has their own Opportunities section, which while not solely a location for retiring practitioners to sell or value their firm, is an avenue to do such.
However, a website aimed directly towards those selling their firms or looking to buy was launched in the last few weeks.
Retiringaccounting.co.uk is a platform for accountants to have their firms valued and bidded for by other accountants or those seeking to buy a practice.
While perhaps a positive for those with no available successor, selling online has a number of pros and cons.
Register with AccountingWEB for free to read the rest of the article, which includes:
- Questions to ask when planning succession
- AccountingWEB member advice
- Expert advice
- Online selling