BUSINESSES must consider succession planning as part of their long term targets for growth.
That’s according to CDEMN Director of Operations Ben Gilhepsy, who spoke at Peterlee Business Park’s February networking meeting which was focused on how employers can better plan for the future to ensure changes don’t affect how they trade.
Ben, who has vast experience on the subject from his previous managerial roles with SMEs including SGS, spoke alongside Michael Smith, corporate finance partner at Tait Walker, which is one of CDEMN’s affiliate members.
Ben said: “Succession planning is a topic that’s very close to my heart, as I have seen businesses go through the process so many times and it’s crucial that you’re able to come out the other side on one piece.
“It is often an area overlooked by businesses, especially micro and small employers who don’t have the resources. It’s often the case that they don’t see it as an area which will affect them however, even a member of staff leaving can fall under the umbrella of succession planning so it’s important they think about it.
“I hope my own experiences gave attendees at the Peterlee Business Park event food for thought, as one of CDEMN’s main priorities is to work with businesses across the area to help them better understand the challenges – and opportunities – that they could face.”