If succession is on your agenda, do you know what your business is worth?
By Natalie Wright, Leeds Office Managing Partner and UK Head of Family Business at Forvis Mazars
When business owners think about succession, the conversation usually starts with people.
Who will take over? Should the next generation become involved? Who should own the shares, and how can the family be treated fairly?
These are all important questions. But there is another question that needs to come much earlier in the conversation: what is the business actually worth?
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