Episode 55 Succession Planning for SMEs: With or Without the Next Generation
Guest: Suraj Malik , CEO , Legacy Growth
Welcome back to MSME TALK® with Industry Expert. Industry Expert segment brings Industry Expert who discusses on specific topic relevant for MSMEs, Startup to scale up and build long-lasting Businesses.
Why did we do this episode:
Even successfulBusinesses in other countries are closing because of succession issues , we are witnessing the same in India. Hence we want our Business Entrepreneurs to warm up for Business Legacy.
𝐆𝐮𝐞𝐬𝐭:
Suraj Malik is Succession Strategy and M&A Expert providing guidance to Founders, Promoters & Family Offices . He holds extensive experience in setting up and managing family offices and trusts to help business owners drive effective succession planning, wealth presentation and estate planning all aimed at Legacy creation.
In this episode, we explore:
TimeStamp
00:00:00 - Teaser
00:02:00 - Whats ahead in Episode
00:02:00 - Introduction & Context
00:02:23 - Meet Suraj: Legacy Planning Expert
00:03:17 - Why Suraj Chose Succession Planning
00:05:01 - Current SME Succession Scenario in India
00:08:30 - Future Trends in SME Business Legacy
00:10:55 - If Next Gen Takes Over: Grooming & Structures
00:12:36 - If Next Gen is NOT Interested: Alternatives
00:17:18 - How Professionals Can Bridge Succession Gaps
00:23:00 - When Selling Becomes the Best Option
00:26:07 - Mergers & Partnerships for Continuity
00:31:10 - Do Employee Buyouts & ESOPs Work
00:34:27 - How to Choose the Right Succession Option
00:38:05 - Most Common Succession Path in India
00:39:51 - The Most Difficult Yet Beneficial Choice
00:41:22 - First Steps for Non-Family Succession
00:46:03 - Challenges Without Documentation & Systems
00:49:00 - Valuation & Tax Planning in Succession
00:52:08 - Legal Structures that Smoothen Transition
00:54:00 - Preserving Founders Trademark, Name & Legacy
00:56:00 - Cultural & Emotional Barriers in Succession
00:58:21 - How Founders Accept Letting Go
01:01:00 - Action Plan: 3 to6 Steps for SMEs Succession
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