14 August 2000

Keeping it in the Family – SME Family Business Succession

FEE has published Keeping it in the family with the assistance of ACCA (the Association of Chartered Certified Accountants).

The purpose of this paper started because all too often business thrive on the energy of founders who make no plans for the future. When they retire, the new generation of owners may be totally unprepared or unsuited for its new responsibilities, or just not interested. As a result, a viable business may be sold at a low sale price to a competitor or may drift from growth to survival to failure. Employees’ jobs may be lost; many of the rest will see the warning signs and leave, taking key skills and knowledge with them.

Effective succession planning will minimise the threat posed to the business and to family wealth by generational change. By thinking ahead pitfalls can be avoided.

The study focuses on the way of keeping the SME Business in the family from a legal, financial, fiscal, and psychological point of view.

This guide is ideally intended for accountants to give to their clients as part of a process of a structured review of succession issues.

The study includes several examples in order to clarify and show real practicalities of its contents.

There are useful checklists in each chapter in order to not forget key issues during the succession plan and the succession process.

Position Paper


Related content

EventTax Day 2020

19 February 2020

EventDigital Day 2019: What does innovation cost?

19 November 2019

EventEvolving needs of SMEs: the profession’s role?

24 October 2019

PublicationTax Dispute Resolution

13 September 2019

Stories from practiceAn external CFO supports SME growth

9 September 2019


6 September 2019


20 June 2019

PublicationSME hub

11 June 2019

BlogGDPR one year on: its impact on auditors and accountants?

13 May 2019

Update SME

6 May 2019

NewsWhy should I care about accountants?

2 May 2019

In the mediaEvolution of SME audit in Europe from the perspective of the legislation and auditing standards

10 April 2019

PublicationOur SME work in 2018

10 April 2019

Update SME

8 April 2019

PublicationThe Business Insolvency Directive

28 March 2019

PublicationAudit exemption thresholds in Europe

21 February 2019

BlogLooking back, moving forward: our sustainable future starts today

16 January 2019

Publication10 Most popular publications of 2018

11 December 2018

PublicationGDPR: implications for auditors

6 December 2018

Stories from PracticeWorried about the GDPR? Call your accountant!

3 December 2018

Sign up for our newsletter