Experts discuss succession planning at AIB event.

Engaging next generation, being prepared and investing in people were the key messages from AIB's recent Succession Planning event in Wexford. DCU Centre for Family Business drector, Dr. Eric Clinton spoke of the stages to preparing the next generation for business management, using examples from Irish and global family businesses.

Kevin Clarke, Manager with Irish Life, focused on family business owners protecting their business and their future. He noted that the most important aspect of a business are its people and went on to say that  we insure our cars, houses, holidays but we have no protection for employees. Ronan Furlong, Tax Partner with PWC, spoke of the issues arising from succession including life time transfers, transfer on death, and main reliefs available.

There were approximately 60 attendees, many from family businesses across different sectors, who came to learn about the importance of succession planning at the event hosted by AIB Business Centre South East. Attendees found the speakers and content of presentations very informative, with many remarking it helped focus their minds onwhat hey should be considering but have been overlooking – their future and future of their business.