Paper Key : IRJ************229
Author: Suyog Gajanan Ghate
Date Published: 04 Apr 2025
Abstract
Financial planning is a critical component in ensuring the seamless transition of business ownership, especially in family-owned enterprises. Many businesses face leadership and financial challenges due to inadequate succession planning, leading to disruptions and instability. This research paper examines how structured financial planning can enhance business succession by analyzing tax planning, liquidity management, and best financial practices. Through a quantitative research approach, this study explores financialstrategies that contribute to a successful transition. Findings indicate that businesses with proper financial planning experience have fewer operational disruptions and higher sustainability post-succession. This paper concludes with recommendations to improve financial preparedness for business succession.
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