Who will take over? This is certainly one of the trickiest questions in any business transfer process. Fortunately, there are paths that you can explore to help you find the right answer.
What should you do during this step?
You have many options at this stage. You can consider selling the business to family members, key employees or an outside party. Your thinking should focus on the following aspects:
the personality and skills of the desired successor
the impact of your choice of successor on the company’s selling price
the possibility of selling to a competitor
identifying potential candidates
meeting and evaluating candidates.
What resources might you require?
Human resources and management professionals can facilitate this step. Your transfer manager will be pleased to recommend specialists in your region and assist you in following up. Evaluated by National Bank, these external service providers are notable for their expertise and high customer satisfaction ratings.
Choose Your Successor
