Business Succession and Exit Planning for Businesses in Built Environment
There are just over 390,000 businesses working in the built environment space, representing 1 million employees and a market size of $433 billion.
Owners of Built Environment businesses are often baby boomers and many are approaching retirement. The research says most haven’t spent enough time and effort to develop a succession plan, therefore jeopardising the likelihood of being able to successfully exit. A study by the ABS reveals that “less than half of business owners successfully extract the value of their business upon retirement.”
Business Succession and Exit Planning takes time to implement successfully and the best place to start is to find out about current trends, latest research and potential exit options in your industry as well as examining several real client case studies to see what strategic succession plans have been successful.
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To find out how the implementation of a business succession plan may impact your business or for more information on this research, contact us.