Beyond Your Business - Step-by-Step Succession Planning
Are You Ready?
More than 40% of business owners plan to leave their businesses in the next five years and yet, over 60% do not have a formal exit strategy.
What The Future Holds
As difficult as it may be, it’s important for you to picture the day when you will no longer be in charge of your business.
Succession Planning goes beyond choosing successors and financial, legal and tax implications. It takes into consideration how family, employees, customers, and the owners are affected.
Without a proper transition plan, the opportunity to optimize the value of your business and consider all other implications are lost.
Planning should start at least 5 years ahead of time, preferably 10. Putting a plan in place doesn’t mean you must exit or sell your business the next day, but advance preparation is the key to a successful transition.
Going ‘Beyond Your Business’
Developed specifically with the small business owner in mind, this program will provide you with the knowledge, skills, tools and resources needed to effectively manage your succession planning, allowing you to adapt to the ever changing business environment and deal with transition and opportunities you will inevitably face.
What Participants Learn
- How to prepare or ‘package’ your business for a profitable and seamless change of ownership.
- Where to find people interested in purchasing or taking
ownership of your business, including employees. - How to effectively pass your business on to family members.
- Strategies for reducing the tax burden of selling or passing
on your business. - How to ease yourself away from your business and get the most out of your post-business life while leaving a powerful legacy behind.
- The relationship between selling your business and personal financial planning.
For more information contact ACSBE at (902) 543-1067.
