Business Succession Planning

Corporate succession planning is the process of identifying and internally developing talent with the specific objective of replacing key business leadership positions in the company.

Succession planning is a process that ensures your company is prepared for the future. That way, when a key employee leaves, you already have someone in mind to fill their position (who, hopefully, has been groomed for this eventuality).

Succession planning keeps your business moving forward during the inevitable changes that come with running a business. And such plans serve as an excellent tool for retaining your strongest performers, who often tend to be the type of employees who need to know where their career is headed.

In PKP we assist you in the following business succession plans

•  Co-owner - Selling your shares or ownership interests to a co- owner(s)
•  Heir - Passing ownership interests to a family member.
•  Key Employee - Selling your business to a key employee.
•  Outside Party - Selling your business to an entrepreneur outside your organization.
•  Company - For a business with multiple owners, you can sell your ownership interests back to the company, then distribute to the remaining owners.