The succession conversation should begin before a decision is made
By Mehmood Rajoka3 min readUpdated 2026-07-16
Succession planning is most useful when it starts before an owner feels forced into a decision: identify what must be protected, reduce the business’s dependence on one person, and keep the owner’s trusted advisors involved from the outset.
Written by Mehmood Rajoka, Founder of Mantle Partners. This is general information, not legal, tax or financial advice.
Start with the question beneath the decision
A useful succession conversation begins when an owner can describe what they want to preserve, what they are worried about and what would make the business less dependent on them. It does not need to begin with a chosen successor, a valuation or a date.
The first practical work is usually to name the people and relationships that carry the business: key clients, senior colleagues, suppliers, family members and trusted advisors. That creates a fuller picture than an ownership chart alone.
Make the first conversation private and specific
A short private briefing is often enough to begin: why the question has arisen, what must not be disrupted, who should stay close to the conversation and what information is not yet ready to share. A good process leaves room for the answer to be “not yet”.
Keep professional advice in the room
The legal and tax treatment of a succession depends on the business, its structure and the proposed transition. Owners should take advice from their accountant and solicitor before acting. HMRC’s guidance shows why a change in who carries on a trade can have distinct tax consequences.
A first-question checklist
- What would a good next chapter protect for staff, clients and family?
- Which decisions currently stop when the owner is unavailable?
- Who needs to be involved early, and who does not?
- What information needs to stay confidential until there is a reason to share it?