Succession London is a specialised consultancy service for owner managers who wish to retire or move onto something else but have not yet designated a successor. Succession London offers the business owner a realistic exit route from the company by facilitating a sale to employees or the next generation.
The lack of succession planning has been identified as a key weakness in the survival of SME'S across Europe for the last decade. The European Commission estimates that ten percent of company liquidations are estimated to be due to bungled succession - this would approximate to 147 across London per annum.
A number of pilot projects promoting succession strategies have been conducted around the UK, as well as in London, to take advantage of the tax laws that have been put in place to encourage employee buyouts. These have their rationale in the considerable productivity improvement effects, average 20%, that result form a well structured employee buyout as well as all the local economic spin-offs - saving jobs, keeping investment local, spreading equity participation, developing corporate citizenship and improved social indicators.