The release of Succeed, New Zealand's only succession planning magazine

Auckland Chartered Accountancy firm Hayes Knight are delighted to announce the unveiling of the latest issue of Succeed magazine at a very special event on the 22nd September 2011. Guest speaker, serial entrepreneur and raconteur Mike Hutcheson will share his experiences of the business world and planning for the future.

Succeed, has generated a loyal following. Sponsored by ASB Bank and Hayes Knight, the magazine tackles prominent societal and business issues particularly around succession planning and transition of ownership. Succeed also confronts the emerging succession trends, using a combination of real life case studies and practical advice, helping businesses implement strategies that will ready them for tomorrow.

“As we come out of the recession, the lack of preparedness in succession planning by baby boomer business owners looms as one of the single biggest issues facing New Zealand businesses,” says Hayes Knight business improvement director Aaron Wallace.

Between October 2008 and April 2011 the number of business owners planning to sell after 3 years has increased by 22%. This group now represents 75% of all businesses surveyed and shows a clear shift in business owners’ intentions to hold their business for longer. Based on population demographics, it is reasonable to assume that many of these businesses will be owned by baby boomers. These business owners will be aged between 55 and 65 years which may result in a flood of businesses hitting the market over the next 5-10 years.*

“Simply put over the next five years there will be more businesses for sale than there are buyers. To have any chance of realising the full value of their business, owners need to start the succession planning journey now or risk losing their nest egg,” says Wallace.

Hayes Knight’s on-going work in the area of succession planning has seen the firm accumulate a wealth of knowledge and practical experience across the entire succession lifecycle, from the journey of preparation, through to the actual event. “Business owners may think they know the ropes about many things but, trust us, the landscape has changed. This is new territoryand it will often not bebusiness as usual,” concludes Wallace.
Details of the event:
Date: Thursday, 22 September 2011

Time: 6pm – 8pm

Place: Continental Car Services Audi

42 Great South Road

Newmarket

Auckland
* ASB Succession Monitor Reports 2008-2011

About Hayes Knight

Hayes Knight is an innovative chartered accountancy practice that works beyond the numbers to keep their clients’ businesses future fit. With 112experiencedand energetic people, including 13 Directors, Hayes Knight offers a full suite of services including business advisory, taxation, audit and assurance and business improvement services.Numbers are only a part of the game plan. Hayes Knight works closely with clients to add rigour to their business planning and helping to improve their businesses.