Three out of four businesses in the Republic are family owned but many of these are in danger of dying out unless succession planning is explored in a timely and careful fashion, says the Association of Chartered Certified Accountants (ACCA).

Questions arising from this process are answered in ACCA's recently published Keeping it in the Family guide to succession planning for owner-managed enterprises.

The booklet gives a series of succession-planning strategies and a set of checklists which provide key questions asked by owner-managers when planning succession policy. Case studies and simple, effective plans for business succession are also included.

"All too often these businesses thrive on the energy of the founders who make no arrangements for the future," says ACCA president Mr Peter McGuinness.

"When they retire, the new generation of workers may be totally unprepared or unsuited for the new responsibilities," he said.

The guide is free of charge and available by calling ACCA at (01) 491 0466.