A business succession plan is one of the most critical components of any business’ strategic planning process; however, many business owners fail to develop a plan. Failing to plan can cost a business owner both time and money. Every business owner will exit their business at some point in time so why not plan for the inevitable?
This workshop provides an overview of the key elements of business succession planning, with a particular focus on the issues surrounding closely-held and family held businesses. We will discuss how to design and implement a successful plan to reduce the level of risk involved in the transfer of ownership. We will also discuss common pitfalls faced by business owners and the impact of failing to design and execute a succession plan.
