Understanding succession planning vital for accountants
With an ever-increasing number of Australia’s business owners nearing retirement age, it is vital that accountants add succession planning to their professional repertoires.
At the current rate, there are over 5,000 people turning 65 per week in Australia, with this number projected to increase over the next seven years. For these individuals, successful succession planning is at the forefront of their minds, as they aim to retire knowing their employees are cared for, their business can continue without them, ensuring suppliers, customers and family members in the business are looked after.