13th February 2013

Baker Tilly Mooney Moore is participating in a global research project on succession planning and is inviting owners of privately-held and family businesses to take part.

“Succession planning is a key issue for businesses in Northern Ireland and around the world; in the next decade an unprecedented number of owners will retire, leading to a massive shift in wealth, ownership and control,” said Tax Partner Anne Fitzpatrick.

“Such is the scale of impending succession that the way in which the ownership of these businesses is transferred will determine not just the wealth of the individual and family involved, but the future prosperity of the economies in which they operate.

“Many of those retiring currently have no exit strategy and need to understand the many complex family, individual and business issues that must be addressed in the succession process if they are to realise the best value possible for their business,” Anne said.

Business owners who would like to take part in the research can access the on-line survey, which should take around 15 minutes to complete.

Those completing the survey will receive a copy of Succession Planning, a Baker Tilly International Guide for closely held and family businesses. They will also receive, mid 2013, a copy of the report based on the survey findings, supplemented by high-level analysis and commentary, which will provide valuable insight into the succession planning challenges and allow regional and global comparisons.  The closing date for submissions is 19th April 2013.