The experts of Advisory Team are here to help!

Patrick Vandervelden, Managing Partner of Advisory Team, offers his key insights for a successful business transfer.

 

 

Successfully transferring a business is a process that requires a lot of time and preparation. It is important to give yourself enough time and not wait until the last minute to organise the transfer. Three years of preparation is not excessive to arrange everything in detail.

Take the necessary time and also establish a plan for after the transfer.

Do you want to remain involved in the business or not? Would you like to take on an advisory role to support the new leader in managing the business?

Do you have a financial plan to secure your future after the transfer? How will you ensure you have enough financial resources to maintain your lifestyle or possibly make new investments?

Have you already thought about a social plan after the transfer? Do you have an idea of how to occupy your time outside the business or maintain your network?

In summary, a detailed plan for your future after the transfer is also essential. It is important to be proactive and plan ahead to be ready on all fronts for the next phase of your life.

It is important to seek advice from independent professionals to maintain a positive future outlook. Do not hesitate to contact us for more information and professional advice.