Succession planning for your business

Succession Planning Basics: How It Works, Why It's Important

The term succession planning refers to a business strategy companies use to pass leadership roles down to another employee or group of employees.

The Small Business Owner's Guide to Succession Planning - SCORE

In this guide, learn how to develop a succession plan that works for your business. Some items covered include: 1. Decide how to exit your business.

What Is Succession Planning? 7 Steps to Success - Robert Half

In simplest terms, succession planning is defined as a strategy for identifying and developing future leaders at your company — not just at the ...

A Beginner's Guide to Business Succession Planning for Small - ADP

Key aspects to have in a business succession plan · Identify priority roles. · Define what is needed for each role. · Find possible succession candidates for ...

Succession planning - Professional & Organizational Development

Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those ...

Plan a Smooth Succession for Your Family Business

A central concern of family business leaders is assessing the readiness of the next generation to take over the business.

Business Succession Planning - Endacott Timmer Law Firm

Within a business environment, succession planning creates a plan for stabilization through change–so that companies continue to operate effectively and without ...

Business Succession Planning: A Step-by-Step Guide - Factorial

Business succession planning is a process that helps you prepare your company for the future. Essentially, it's about creating a strategy and ...

Business succession planning - Deloitte

the reasons people avoid succession planning aren't as important as the reasons they should embrace it. For a business, working without a succession plan can.

A Quick and Easy Guide to Business Succession Planning

Business succession planning is crucial to avoid disruptions and ensure continuity. Without a plan, your business also risks operational chaos ...

The Importance of Creating a Business Succession Plan

In short, succession planning is part business planning, part exit planning and part estate planning, and you should review both business and personal documents ...

Succession Planning: How It Works, 5 Steps to Take - NerdWallet

Succession planning is the act of choosing and training employees to replace company leaders when they leave. In some cases, for privately ...

Succession Planning for Business Owners - Estate Planning - Fidelity

At a minimum, a business succession plan should address the systematic transfer of the management and ownership of a business. Management succession planning ...

How to create a succession plan for business continuity and growth

Succession planning is the process of identifying and preparing promising executives for greater future responsibilities and is significant in modern business ...

A Guide to Succession Planning for Small Businesses | Trust & Will

A small business succession plan is a plan that outlines what should happen to your business should you retire, pass away, or become incapacitated. The document ...

Succession Planning: All You Need To Know [2025 Edition] - AIHR

It's about identifying top performers and potential leaders and mentoring and developing them so they can advance in the organization and move into top-level ...

What You Need to Know About Business Succession Planning

A succession plan is a living document. You should reevaluate your plan each year or when there are major organizational changes within the company to see if it ...

Succession Planning For Owners Of Small And Medium Businesses

The business owner who lacks a succession plan has three steps to get started: talk to others who have exited their businesses, identify viable choices.

Advice for succession planning - Articles and tools | BDC.ca

Will you be ready when the time comes for you to leave your business? Plan your sucession strategy to make a smooth transition to new ownership while ...

The Best Business Practices for Succession Planning

Whether you are relatively young and own a startup, or your company is more mature, identifying your exit timeline and preferred methods of succession will help ...