Business Succession Planning – Passing on the baton

As successful business owners age, they may realise the need to plan for the next generation to take over the family business. Their biggest concerns will be fragmentation of ownership, succession of the management, breakup, or sale of the business by the next generation.

The answer lies in having a proper family business succession plan where the business can thrive beyond three generations. We are more than happy to share with you on how to ensure the smooth transition from one generation to another for the succession of the family business.

Making a family business a family legacy takes planning and preparation. While each family business has its own unique issues, there are some common strategies associated with succession planning. A good start is to consider the following steps:
Step 1: Give the family a reason to continue the family business
 
Step 2: Develop a management team
 
Step 3: Structure a business succession plan
 
Step 4: Fund the business succession plan
 
Step 5: Wealth replacement for other family members
 

Step 6: Have a successful business

Contact me today if you wish to discuss further!

Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs.

Published By:

Samantha Lim 林淑燕

With over 20 years of experience in the financial industry, I am dedicated to helping busy individuals and businesses navigate the complexities of wealth management.

My approach is centered around understanding your unique goals and values, ensuring that your financial journey is both fulfilling and aligned with your aspirations.

I believe that your wealth should be:

  • SECURELY SAFEGUARDED against all risks, giving you the confidence to pursue your dreams.
  • SUSTAINABLY GROWN over the long term, so you can enjoy the benefits of your investments for years to come.
  • STRATEGICALLY OPTIMIZED for maximum returns, ensuring that your financial resources are working as hard as you do.
  • WISELY DISTRIBUTED with future generations and meaningful causes, allowing you to create a legacy that reflects your principles.
  • Designed to create a PASSIVE INCOME STREAM, so you can stop working for your money and enjoy the freedom that comes with financial independence.
  • Built to establish a financial SAFETY NET for you and your loved ones, providing peace of mind in uncertain times.
I pride myself on my client-centric approach—there are no pushy tactics here. My goal is to empower you with the knowledge and tools you need to make informed financial decisions.
Together, we can create a comprehensive plan that not only protects your wealth but also paves the way for a brighter financial future. Let’s embark on this journey together!
 
View My Profile
Subscribe To My Content

CONTACT US

Disclosure & Disclaimer

Privacy Policy

Fair Dealing

Cancellation & Refund

Contact Me

What type of services are you looking for? (Please select all that applies)

ACKNOWLEDGEMENT

By submitting this form, I confirm that

  • I have read and understood FA Advisory Sdn Bhd.’s (FAA) Personal Data Policy, and hereby give my acknowledgement and consent to FAA to use my personal data in accordance with FAA’s Personal Data Policy.
  • I have read and understood the disclaimers above and hereby affirm my acceptance of these terms.
  • I have not been directly contacted or approached by any representative or employee of FAA with an offer or solicitation to apply for any financial products not offered in my home country.

Scan for Contact Details

Enquiry

Join our newsletter

Subscribe to our newsletter to receive updates on our latest content!

By providing the info below, I confirm that I am the user and/or subscriber of the telephone number(s) and email address provided by me and I consent to receive from FA Advisory Sdn. Bhd. and/or its financial adviser representatives, any marketing, advertising and promotional information organise by FA Advisory Sdn. Bhd. via voice calls, SMS/MMS (text messages) or faxes to my telephone number(s) provided below. I understand I may withdraw any consent I have given at any time by writing in to FA Advisory Sdn. Bhd..

Scan for WeChat QR