UK business owners are in a “precarious position” as about half have not established effective exit strategies or put succession plans in place, according to research from Charles Stanley.
The wealth manager said 48% of the businesses that took part in the research had not put a plan in place. Other findings included that 13% said they had not considered the need for an exit plan, while a further 3% were unsure if the firm had one or not. Charles Stanley said it spoke to more than 500 UK business owners and entrepreneurs as part of its Fortune Favours campaign. It also found that despite widespread lack of planning business owners remained optimistic about the future with 71% confident they could step back from their business in the most tax-efficient way should they ne...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
