Corporate succession arrangements are crucial to the development and competitiveness of a company. As such, the timing of succession-related deliberations, the involvement of all concerned (family members, shareholders, other investors, staff, clients, suppliers, any relevant political bodies) and the open discussion of all the options are key factors for success.

In conjunction with entrepreneurs and directors, expert academics and consultants,
Batard & Partners outlook has formulated ten key ideas for corporate succession.

Key ideas

• Establishment of a clear ownership strategy
  
• Ascertainment of future prospects
  
• Agreement in respect of succession arrangements
  
• Early planning and timely implementation of succession arrangements
  
• Careful preparation and motivation of designated successors
  
• Organization of the company in a manner conducive to a smooth succession
  when time comes
  
• Consideration of various strategic options
  
• Assessment of the value of the company from the successor's point of view
  
• Safeguarding of family assets and retirement provision
  
• When it comes to succession-related arrangements, the right source of advice is essential.