Updated: Apr 19
Preparing for employee ownership
An employee-owned business needs to be successful with the owner-manager moving to a non-Exec role or absent altogether. Preparing the business thoroughly for leadership transition is critical for success.
If you plan to step away from your business, delegating some responsibilities now will help you avoid a protracted exit when the business transfers to employee ownership.
Leadership Transition: Do you work for your business or does your business work for you?
Many small and medium sized businesses are reliant on their owners. If you disappeared for a few months, would business performance suffer? If the answer is yes, then owner reliance may be an issue. Many owners want to avoid additional costs associated with management succession however, management succession in some form or other will be inevitable when you exit your business.
We work with you to identify and execute the changes needed to allow the business to be successful once you step away. We help you examine the readiness of your current leadership structure and to implement necessary changes before transition to employee ownership. We help you examine your senior talent, and the structure of your new senior team, and identify any changes in the team that are needed in advance of the transition to employee ownership.
The good news is that when compared to an outside transaction, employee ownership can enable a less onerous extraction from your business.
Call us on 01384 274 778 / 075 888 925 88 to discuss or go ahead and book a free consultation to explore your options.