Entrepreneurs and their succession: What’s the plan?

Building a business succession or exit strategy can be one of an entrepreneur’s best investments. But in practice, traditional succession approaches can be complex.

Succession and exit often depend not just on business value, but also on financial wealth and its ability to support the founder’s and their family’s lifestyles. Current economic and market uncertainty, particularly around the path for inflation, may make entrepreneurs more worried about their next steps. 

In fact, an Investor Watch survey conducted by our partner UBS in the second quarter of 2022 found that 37% of investors were highly concerned about the value of the assets they’d pass on to future generations. 

Despite the turbulence, today may be an opportune time to begin, or revise, business succession and exit strategies, so they’re right for the entrepreneur’s particular circumstances.

In a three-part series, UBS is showing how business owners and entrepreneurs can navigate the business exit and succession journey for their business, family, and financial goals. Identifying three key ingredients to succession or exit, based on experience with entrepreneurs and founders. In the first piece, we explored how talk and communication are critical to success. 

In this article, they take a deep dive into three ways commercial and personal wealth planning decisions can drive positive results for business owners, their wealth, and their families. 

Read the second part of the series here.