How can I ensure that the business continues to keep to my values after I pass it on?

 

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11. How can I ensure that the business continues to keep to my values after I pass it on?

You can retain control - for example, by retaining a majority of the voting rights. However, this is rarely a satisfactory solution, as your successors are likely to resent your interference.

A more practical approach is to discuss your wishes with your successors, and agree what values you want to see retained. These can be enforced either through a shareholders' agreement, or by amending the company's articles of association.

Be wary of limiting the business's ability to react appropriately as circumstances change in the future.