Covid-19 has not only ushered in a new dispensation of work, but also created an array of new challenges that business owners and shareholders (connected persons) have to contend with.
Before the pandemic, around 70% of business owners did not have their most critical business risks covered. Mid-pandemic, this statistic has gone up even more as business owners invariably started adopting a new set of risks, including changes in consumer behaviour, evolving employee preferences, emotions and beliefs, hybrid work policies, rapid digitalisation, and increased competition from agile businesses. Failure to adapt to change and restrategise will not only impact the future value of businesses adversely, but also affect the interests of business owners and, by extension the transfer of wealth, in the event of their death, disability, retirement or exit.
To assist business owners and shareholders mitigate the risk of diminishing value, we have developed a first-to-market Strategic Succession Solution that blends elements of corporate governance, organisational strategy, change management, and business assurance.