A well planned transition is key to sustaining business success

It takes a solid plan to maintain the long-term health of a business, as company owners and leading advisors explain to John Daly

Charles Guilbaud is well established in the management structure of Restaurant Patrick Guilbaud in Dublin, ensuring the next generation of this famous institution is securely in place. Photo: Moya Nolan

Having a strategic business plan, ideally framed with the help of expert professional advisors, can make the difference between success and failure.

Typically, 10% of small businesses fail in their first year, over 30% in their second year. By the end of year five, anything up to 50% of new businesses have ceased trading.