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SUCCESSION PLAN TEMPLATE AND GUIDE BUSINESS.GOV.AU A good succession plan creates a smooth transition between old and new ownership and reduces disruptions to your business when you’re away. The business.gov.au Succession Plan template steps you through the process of creating a solid, well-structured plan tailored to your business.
business.gov.au Succession Plan Guide Succession plan guide Succession planning Planning for the day you leave your business is a valuable investment. Whether you decide to sell up, retire or have to get out of business due to health reasons, it’s important that you spend the time with your family and/or your business partners and plan what you are going to do. A succession or exit plan can help you outline what will happen and who will take over your business when you leave. A good succession plan enables a smooth transition with less likelihood of disruption to operations. By planning your exit well in advance you can maximise the value of your business and enable it to meet future needs. Make sure your succession plan is attainable - set a realistic timetable and measurable milestones along the way and stick to them. Page 2
Business.gov.au Succession Plan Guide Template overview The following template overview provides details on each question asked throughout the Succession plan template as well as links to further information. When you start answering a question in your succession plan, you can refer to the relevant question below to help guide your answer. Title page Question/Field Explanation Insert business logo Adding a logo gives a more professional image. Your name Enter the business owner's name. Enter multiple names if there are multiple owners. Your title The titles of the business owner(s) listed above, e.g. Owner/Manager. Business name Enter your business name as registered in your state/territory. Main business address Enter your main business address. This can be your home address if you are a home-based business or your head office if you have more than one location. ABN Enter your Australian Business Number. If you are a business and have registered for an ABN enter it here. ACN Enter your Australian Company Number. Only fill this in if you are a company. Prepared The date you finished preparing your Succession plan. Table of Contents If you have changed this template in any way, please remember to update the table of contents to reflect the changes. Page 3
Business.gov.au Succession Plan Guide The succession Business & succession details Question/Field Explanation

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