Midlands firms unite to launch programme on succession planning

Two Midlands based consultancies, Thorogood & Associates (UK) and leadership specialist Dunelm Leaders, have launched a programme that focuses on assisting business owners keen to have clarity over their exit plans.

The firms’ two founders, Neil Thorogood and Karen Tracey have collaborated to design a bespoke programme for entrepreneurs and businesses owners, having recognised  organisations that have failed to address the need to plan for succession and exit.

Award-winning international businesswoman and leadership specialist Karen Tracey is known across the world for her skill in helping organisations develop their leadership skills, brand and capability.

Co-creating this product is another way she has found to help entrepreneurs and businesses deal with the current and relevant issues they are grappling with.

Thorogood & Associates UK and Dunelm Leaders support owners and their companies to develop a robust succession or exit plan.

This addresses issues including owners personal objectives, leadership skills of key people, finance, risk management, governance and more.

From their experience, the programme has been designed so that it provides a platform to identify key areas of development required in order to make the business sale or succession ready.

Using initial assessments and audits conducted at the start of the process, the programme prioritises key areas to work on through dedicated workshops in the development phase of the programme.

Founder and director of Thorogood & Associates UK, Neil Thorogood, said: “Having guided a number of company owners over the last 20 years to exit and having exited my own company in 2022, I really want to help owners gain clarity over their options and develop a clear plan for succession and exit that works best for them.

“So many owners put off tackling the daunting challenge until it is too late.”

Owner of Dunelm Leaders, Karen Tracey, said: “I am thrilled to be collaborating with Neil on this programme.

“Working with businesses to help them get clarity on their exit plan and then onto working with them on building the business to realise this aspiration is so rewarding.

“I have worked with so many organisations over the years who do not have a plan, put off the discussion or are in denial they need one. This helps them see where they are going and begin steps towards it”

Chadd Blunt, owner and founder of Millennium Cargo, a UK based and global Freight Forwarding firm said: “The Business and Beyond Programme has provided us with a really useful mechanism to assess our options regarding succession planning for the company.

“Being a family concern, it was essential to have an independent and structured approach to building a succession plan that takes account of a multitude of factors and not just the financial and legal issues. Both Karen and Neil have brought different skills to the process, therefore making the development of the succession plan extensive in terms of people, processes, financials and governance.”