In the last 25 years, we have noticed an immense change in the Polish market. Hard work, dedication and freedom were a base on which many Polish people built companies that are well-known not only in Poland, but also across Europe. IPP Management wants to extend this successful period for the next generations. We are able to build strategies for the future and protect already established businesses. That is why we have decided to offer a range of services in Succession.
- How long does it take?
Succession process is a series of events that take place over the course of years. Although the expectations of Polish entrepreneurs indicate that this process should last no longer than a year, our experience shows that to execute it properly it should be planned for 2 to 5 years. This way every stage of the process matches the expectations of the entrepreneurs who want to hand over their business to its successors.
- When to start ?
Although the decision to hand over a business depends on individual circumstances, there are some events that could prompt succession:
-professional independence of potential successors
-first signs of current owners that it is the time to leave the business
-family circumstances that force current owners to limit their professional engagement
- What to focus on ?
Succession plan or succession strategy, regardless of how we refer to the first stage of collaboration with IPP Management, is going to constitute a document with feasible expectations towards the future of a business. This document is developed both by the Owners and IPP Management team. It describes main points and defines key issues of succession process, which is subsequently implemented by IPP Management.
- We take care of:
-board acquisition by the Successor
– taking capital control over the enterprise by the Successor
-legalities, taxes and family governance regulation
– defining “Family Business Rules Code”