When building a business from the ground up, founders are often asked about the legacy they want to leave to future generations. The reality, however, is that the average lifespan of a business is just 15 years – roughly one generation.

This is why Sudir Sahadeo, regional investment manager at Business Partners Limited, believes succession planning is about so much more than just naming a replacement. “It’s about grooming future leaders, formalising governance, and ensuring that financial and ownership structures support a smooth transition. Even successful businesses with competent new leaders can falter when their founder steps away.”

In this sense, a well-structured succession plan protects more than just the owner’s investment; it safeguards the entire ecosystem around the business. Employees rely on the company for their livelihoods, clients depend on its services, suppliers need its stability and local communities often depend and benefit from the business. Without a clear plan, companies can face leadership vacuums, internal conflict or even collapse when a key decision-maker retires, passes away or exits unexpectedly.

Sahadeo adds that proactive planning can also help unlock growth. “When ownership transitions are planned well, it gives the next generation the confidence and structure to innovate. It also reassures lenders and investors that the business is stable and sustainable.”

From legacy to leadership

A compelling example of successful succession planning can be seen in the story of Human Scale Printers (HSP), a Durban-based printing and packaging private business founded in  1986 by Geoffrey Bongani Buthelezi. Having built the company through four decades of economic and social change, Geoffrey began planning early for its future leadership – engaging his daughters, Sibusisiwe and Sithokozile, in the business long before his retirement.

Today, the company operates from the Prospecton industrial area with 20 employees and a 1,400 m² factory. Under Sibusisiwe’s leadership, HSP has achieved ISO accreditation and expanded into packaging, supported by new machinery financed through Business Partners Limited.

Sibusisiwe, who took over officially around a year ago, has already achieved impressive strides, just as her father envisioned. She explains that her father first raised the possibility of succession as early as 2010, which allowed her to integrate the transition into her career plans.

Having worked as an auditor before joining the family business full-time, Sibusisiwe understood both the financial and operational demands of running a manufacturing operation. Before officially taking the reins, she also remained actively involved by managing its finances, which allowed her to transition gradually.

Her journey illustrates how thoughtful succession planning can strengthen rather than dilute a founder’s legacy. With new ISO systems, advanced packaging equipment and a vision to create a training facility for young technicians, HSP continues to grow while staying true to its community-driven roots.

Finance as a bridge between generations

Funding is often a crucial enabler of smooth transitions. In the case of HSP, access to finance allowed the business to invest in new equipment and expansion opportunities during its leadership changeover.

“Succession can place significant financial pressure on a business, especially when it involves buy-outs, property acquisition or investment in modern technology,” explains Sahadeo. “As a specialist financier for SMEs, we help ensure that these transitions strengthen rather than strain the business.”

Ultimately, succession planning is about building resilience. “Every successful entrepreneur wants to leave behind more than a business, and that’s what good succession planning looks like. They want to leave behind a legacy that continues long after they step away,” Sahadeo concludes.