Expertise and advice so you're always one step ahead - sign up to receive the latest legal updates, events & seminar news
HomeNewsTips on future-proofing your business at our succession planning seminar
Tips on future-proofing your business at our succession planning seminar
03 September 2019
According to research[1], nearly 6 out of 10 family businesses in the UK don’t have a succession plan in place.
Just like making a will, it’s often one of those tasks which is shelved for ‘some other time’, sometimes until it’s too late.
However, should a key director retire, or crucial personnel suddenly depart, how would your organisation cope?
Some of our lawyers will be sharing advice on succession planning for businesses, from family-run and SMEs to national organisations, at our upcoming October breakfast briefing at National Star College, Ullenwood.
Employment law partner Matthew Clayton, corporate & commercial associate Sophie Martyn and wills, trusts & probate associate Rachel Sugden will take you through the primary legal issues. They will reveal how you can safeguard the continued smooth running of your business should there be a change of personnel or ownership, whether planned or unexpected.
They will be covering topics such as the legal issues around retirement, preparing junior staff for taking on more responsibility, different ways for introducing equity stakes for existing staff, bringing in new investors, owners or management team and passing on business shares and assets in your will.
The seminar is aimed at business owners, managing directors, CEOs, HR and finance directors, and there will be opportunities for networking with fellow delegates before and after the session.
Partner Matthew Clayton, speaker and head of our Legal 500-rated employment law division, commented: “It’s hard to overestimate the importance of having a good succession plan in place, and it’s surprising how many businesses do not already have one (particularly family-run operations and SMEs).
“Having a succession plan in place is key to achieving a well-managed ownership transition – benefiting the employees, shareholders and all who rely upon the smooth running of the business.”
The workshop runs from 7:30am to 9am on Wednesday 2 October and tickets cost £18.50, to include a light breakfast.
We’re excited to announce our official partnership with Gloucester Rugby, which has been confirmed for the next three seasons. The partnership will include providing legal advice on commercial matters such…
The residence nil rate band (RNRB) is an additional inheritance tax allowance that can be claimed alongside the usual nil rate band allowance. The RNRB allowance is currently a maximum…
When should you apply for a financial order on divorce and do you actually need one? Following the introduction of no-fault divorce in April 2022, many couples have found themselves…
By clicking Accept you are agreeing to the use of all cookies which will allow us to provide you with the most relevant experience when visiting or re-visiting this website. This means that your personal preferences will be remembered when you use this website. You can change your consent or choose specific settings by clicking "Cookie Settings". By clicking "Reject All" we will not use any non-essential cookies. Essential cookies will still be used for the website to function properly. Please see our cookie policy and privacy notice for more information about how we process your personal data.
Our website uses cookies to improve your experience while you navigate through our website. Out of these cookies, the cookies that are categorised as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyse and understand how you use our website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies but it may affect your browsing experience on our website. You can find our cookie policy here.
Necessary cookies are absolutely essential for our website to function and enable core functionality such as security and accessibility. These cookies do not store any personal information. You can block these cookies by changing your browser settings, but this may affect how the website functions.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Cookie
Duration
Description
__cf_bm
30 minutes
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
mgref
1 year
This cookie is set by Eventbrite to deliver content tailored to the end user's interests and improve content creation. It is also used for event-booking purposes.
yt-player-headers-readable
never
The yt-player-headers-readable cookie is used by YouTube to store user preferences related to video playback and interface, enhancing the user's viewing experience.
yt-remote-cast-installed
session
The yt-remote-cast-installed cookie is used to store the user's video player preferences using embedded YouTube video.
yt-remote-connected-devices
never
YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-id
never
YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-fast-check-period
session
The yt-remote-fast-check-period cookie is used by YouTube to store the user's video player preferences for embedded YouTube videos.
yt-remote-session-app
session
The yt-remote-session-app cookie is used by YouTube to store user preferences and information about the interface of the embedded YouTube video player.
yt-remote-session-name
session
The yt-remote-session-name cookie is used by YouTube to store the user's video player preferences using embedded YouTube video.
ytidb::LAST_RESULT_ENTRY_KEY
never
The cookie ytidb::LAST_RESULT_ENTRY_KEY is used by YouTube to store the last search result entry that was clicked by the user. This information is used to improve the user experience by providing more relevant search results in the future.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Duration
Description
_ga
2 years
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gat
1 minute
This cookie is installed by Google Universal Analytics to restrain request rate and thus limit the collection of data on high traffic sites.
_gid
1 day
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
_s
1 year
This cookie is associated with Shopify's analytics suite.
G
1 year
Cookie used to facilitate the translation into the preferred language of the visitor.
vuid
2 years
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
VISITOR_INFO1_LIVE
6 months
YouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
VISITOR_PRIVACY_METADATA
6 months
YouTube sets this cookie to store the user's cookie consent state for the current domain.
YSC
session
Youtube sets this cookie to track the views of embedded videos on Youtube pages.