If you’re self-employed or own a family business, it’s important to think ahead. In the past, passing a business down through generations was common, but today, that’s not always the case. Your children or other relatives may not want to take over, or you may prefer to sell and realise the value you’ve built over the years.

• Keeping it in the family: If you want your business to continue, it’s essential to have a clear succession plan in place.
• Selling it on: If your goal is to sell, planning early can help you get the best valuation.
• Protecting against the unexpected: Without a solid plan, an untimely death or critical illness could leave your business in financial uncertainty. A protection plan and a well-drafted Will* can help ensure continuity.

The earlier you start planning for your business’s future, the more control you’ll have over its direction. Whether you’re thinking about passing it on, selling it, or protecting it for your family, having the right strategy in place can help avoid unnecessary stress down the line.

*Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place. Wills are not regulated by the Financial Conduct Authority.