7 August 2015
Suncorp Bank has partnered with ProAGtive to deliver a series of practical workshops from 18 – 20 August, aimed at helping family businesses in Biloela, Roma and Miles start the conversation around succession planning.
Facilitated by ProAGtive’s succession specialists, Isobel Knight and Tim Lane, the whole family is invited to take part in the sessions which will provide a supportive framework for discussing the often difficult topic.
A recent Suncorp Bank report found discussing succession planning with family members was one of the biggest factors preventing Australian producers from developing a plan for their future.
Suncorp Bank Regional Manager South West Queensland, David Littleproud, said preparing for the transition of management responsibilities between generations was an integral part of good business planning.
“Transparency and communication in planning for the future is integral for any family run business, however many people don’t know where to start,” Mr Littleproud said.
“Succession involves far more than just the transfer of assets, and each family member has an important role to play in supporting the transition of the management roles in a family business.
“I encourage all business owners in the region to bring as many members of the family as possible to one of the three events. You will leave with the confidence and peace of mind to establish a long-term plan for the successful continuation of your business.”
The workshop will cover a range of practical tips for developing a clear business purpose and strategy, understanding generational differences and family dynamics, the importance of having a financial plan to be profitable, legal and tax considerations, and a communications framework to guide the decision making process.
“We have worked with ProAGtive to deliver several educational events for regional and remote communities in the past, and their expertise in family farm businesses is second to none,” Mr Littleproud said.
“Isobel Knight has a unique background in business, law and psychology, and through living and working in a family farm business has experienced first-hand the process of family farm succession planning at a personal level.
“Tim also has a family farming background and as a former director of a major bank and an accredited finance broker, Tim’s focus for the workshop will be on maximizing financial opportunities to foster and drive family relationships.
“Isobel and Tim are also offering two private sessions after the workshop for anyone looking for more in-depth advice about their personal situation.”
Tickets are $25 per person, with all proceeds donated to Aussie Helpers to assist farmers in hardship. Email Aleisha.LANGTON@suncorp.com.au to reserve your place.
Succession Planning Workshop schedule:
|Tues, 18 August, 9am – 3pm||Biloela||Hotel Settlers, 58 Dawson Highway||Adrian Gillies – 4990 1051|
|Wed, 19 August, 9am – 3pm||Roma||Roma Explorers Inn Function Centre, 44778 Warrego Highway||Aleisha Langton – 4624 1044|
|Thurs, 20 August, 9am – 3pm||Miles||Leichhardt Centre, Leichhardt Room, Corner Dawson & Marian St.||Rebecca Bidstrup - 4566 6222|
Meghan Henricks 07 3135 2647 or 0408 533 590
Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers.