A & A Associate | Business Succession Planning
Business succession is an event that rewards you vastly depending on the hard work you have put in the business. It is a crucial step for you and your business both and hence, involves a lot of complexities. A&A Associates will save your day by planning the entire succession procedure for you. We will analyze the current financial issues and provide strategies and tactics to overcome such issues during the transition.
Our services will include:
- Business valuation – The total investment cost will be analyzed by our experts that are equipped with a vast knowledge regarding each field.
- Succession planning – We will assist in developing and implementing the most profitable succession plan as well as train and educate the successor regarding the financial situation.
- Valuation of assets – All the assets will be valued at their fair market value (FMV) by our experts.
- Tax services – Computation of tax charges on profit on disposal and other relevant activities shall be computed by our qualified tax experts.
Importance of business succession planning in UAE
Business succession planning is a significant part in operating a business, especially for small business owners. Preparing the plan in advance helps smooth transition and minimizes any negative effects on their departure.
The purpose of business succession planning in UAE always makes sure that a company has the right leaders in place.
How succession planning benefits your company?
- Continued business – Business succession planning allows a company to operate even if the owner departs. Some business owners liquidate the assets and close their business, while others prefer to continue the business without their presence. If so, choose a successor to continue your business.
- Identify future leaders – With the help of business succession planning in UAE, identify the critical positions suitable for the future success,
Identify the internal candidates with right skills and desire to take on the critical jobs. Discuss with the potential candidates about their interest and career plans.
- Choose a successor – Identify the potential talent whether it’s from employee, or individual to designate the owner’s place. Designating a successor in advance will simplify the transition and set appropriate expectations. Also, provides proper guidance for continued operation and future leadership.
- Space for training and development – If you find any competency gap, then begin grooming them for being a skillful successor. Get essential training and development to achieve the role, invest your time to acquire the skills and gain experience to perform in the senior roles.
- Manage debts – Business succession planning in UAE allows business owners to take outstanding debt and lines of credit into account. After collecting the required information, they provide potential information on how to manage debt repayment. Business succession plan indicates the usage of particular funds or assets to repay your loans.
- Minimize taxes – Well-designed business succession plan minimize the consequence of any transfer of ownership or control of a company. This reduces the business owner’s potential tax liability.
- Maintain brand identity – Business succession planning in UAE allows companies to maintain their brand identity by maintaining and identifying the internal successor. The company is led by someone who deeply understands its brand promises and shares the right value to its customers.
- Long-term plan – Changes are unavoidable and it happens within a fraction of second. Understand your company’s goals and prepare your team to work on it for the future. Have growth plans for retiring employees by handing –over their years of hard-earned knowledge before they leave. Build plans for a better future!
Business succession planning in UAE helps your company to identify and build plans to recover vulnerabilities in other areas of business. Succession planning provides required innovation, setting realistic goals, and planning for future.
What makes us different?
A & A associates provide strategic succession planning that supports your business by analyzing the market competition.
We create a streamlined process to identify the future candidates, assess their talents and develop their abilities. Our succession planning ensures availability of qualified team to replace the existing leaders and maintain continuity of critical business operations.
We offer excellent advisory services and financial analysis. We optimize governance and keeps your businesses comply with the standards and system. With an effective accounting team, we focus on efficient managing of accounts and assist in strategic business succession planning in UAE!