According to Jamir Ssebalu, Managing director of Namasuba College of commerce. He believes that one of the dangers that can befall a business is not grooming a successor. He shared some of the benefits of grooming a business successor.
- Preparing a successor will ensure a prolonged business name and brand because the successor will know and treasure what they found.
- Grooming a successor will relieve you some stress and challenges that comes with running a business as appropriator, hence minimizing mistakes.
- If the business is a family entity then the successor will be able to take up the family name in the company business.
- Successors usually come up with new ideas that can take the company forward.
- A well prepared successor will carry on the pans left in the pipeline by the previous managing director of the company hence ensuring business continuity.