The resignation of Robert Mugabe and the current race for power within the ANC have highlighted the importance of succession planning within the political landscape, but just how important is it for your business? Statistically, just 28% of succession plans end up being truly successful. On this week’s The Money Show with Bruce Whitfield, we considered the all-important questions you need to ask of yourself, and of your business, when creating a succession planning strategy for your business:
Why do only 27% of businesses succeed in moving from one generation to the next? And whats even scarier, is that only 7,2% get successfully transferred to the third generation!
Avoiding being on the wrong side of these statistics even though the odds are against you!
Come join us and get insights into what goes wrong, why it goes wrong and most importantly, what can be done to prevent succession going wrong. Starting off with a breakfast, good coffee, followed by a talk and discussion and ending with networking with fellow entrepreneurs and business owners, you should not miss it.
Hosted by 702 in Johannesburg.
Hosted by Cape Talk in Cape Town.
Attendance is free thanks to the sponsorship of Nedbank.
The statistics are terrifying. A mere 28% of family businesses, across the globe, successfully move from founder to next generation, and only 4.8% make it to the third generation. How do you ensure that the momentum, built by the first generation, continues when the second one takes over? On The Money Show with Bruce Whitfield, Pavlo Phitidis outlines the fundamental principles of creating a succession plan for your family business:
A hardworking, smart professional presented me with a scenario on an offer she had received to conclude a management buy-out.
She has a good relationship with the founder and is a top technical expert in the business. he is reaching a retirement horizon and has confirmed that the future lies with her. He has said that the business will one day be hers and that incentives will be provided to ensure her slice of the pie should she bring new business in.