The shift of wealth: planning for business succession

We’re seeing it more and more. Family businesses, long-standing companies, and successful founders are beginning to ask, "What happens next?"

The transfer of wealth and leadership is no longer a distant idea. It is already underway. For many businesses in New Zealand, especially those built over decades, succession planning is no longer optional.

At Munro Benge, we’ve worked alongside business owners at every stage of their journey. That includes navigating the sensitive and often complex conversations around succession. Whether the plan is to transition to the next generation, sell, or wind things down with intention, we’re here to help you move forward with clarity.

Here’s what to consider when thinking about the future of your business and your legacy.

Wealth is shifting hands, but not always with a plan

Many of New Zealand’s small and medium-sized businesses are owned by people nearing retirement. While the wealth and leadership of these businesses is beginning to shift, the planning behind that transition often hasn’t caught up.

Without a clear plan in place, families can be left divided, staff uncertain, and the business exposed to financial or legal risks. Succession planning is about more than who takes over. It is about protecting the value you’ve created and ensuring it continues to support the people it was built for, whether that is your family, your team, or your wider community.

What succession can look like

There’s no one-size-fits-all approach, but here are a few common pathways:

• Passing the business on to family
  Handing down a business to children or other family members can work well when supported by open communication, clear expectations, and strong legal and financial advice.
  
  
• Selling the business
  Some owners choose to sell to a third party, staff, or within the industry. This option requires careful preparation, including accurate valuation and financial readiness.
  
  
• Winding down with intention
  In some cases, closing the business is the right call. Even this path needs planning, especially around asset management, tax, and cleanly exiting operations.

Why it pays to start early

Succession is not a single event. It is a process. And like most good processes, it takes time to get right.

The earlier you start planning, the more options you’ll have. This might include restructuring ownership, improving governance, or setting up formal agreements to manage wealth transfer across generations.

Having the right team around you matters. That could include legal advisers, financial planners, and your accountant all working together to ensure every piece of the puzzle fits.

How Munro Benge can help

At Munro Benge, we’re not here to make decisions for you. But we are here to help you understand your options, prepare your business, and guide the financial side of succession with clarity and care. Whether you plan to exit in a year or ten, we’re here to support the process.

Let’s have a conversation about what’s next for your business, your family, and your future.

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