Zero succession plan, reason for business extinction —APFSPN

Forum 1 year ago

Zero succession plan, reason for business extinction —APFSPN

The Association of Professional Food Service Providers of Nigeria, APFSPN, has said that the reason why so many businesses are going into extinction is zero strategy for succession planning.

Speaking at the 2023 Annual Conference and Induction of new members into the association, Chairperson, APFSPN, Mrs. Monioluwa Osho, said that succession planning is a strategy which is key to APFSPN business, even as she advised members to innovate for investment as the world seeks a mechanism for investing in food safety in a sustainable way.

She stated: “The world needs a mechanism for investing in food safety in a sustainable way, adapted to national and regional circumstances. This gathering is an opportunity to lay the foundations for that mechanism. Innovate for investment.

In her address, Chief Executive Officer of Wine and Gold Services, Mrs. Deola Fadase, said that succession planning strategy demands that business owners put their businesses in order by paying taxes, employing good accountants among other staff.

She advised members of the profession to consider collaborations that give birth to formidable teams in the industry saying, “collaboration is very good if we are honest, greed kills collaboration”.