Succession planning

Regardless of the reason, having a succession (or exit) plan in place will help you to smoothly transition out of your business.

You can start succession planning years ahead of time; having a plan can be useful if there is an unexpected event, such as illness or death. Without a plan the future of your business can be at stake. Early planning also helps you to maximise the value of your business.

For further details: https://www.smallbusiness.wa.gov.au/exiting-business/succession-planning