Planning for Business Succession

Business owner

October 18, 2016

Q: As a business owner, why is it important to plan for business succession?

A: Most entrepreneurs are passionate about their business and get so caught up in day-to-day operations, they don’t think about what needs to be done if they ever had to stop working unexpectedly.

Many business owners have no plans to deal with contingencies in the case of an illness or a sudden death. A prudent exit strategy focuses not only on planning for the owners’ retirement, but also on making provisions for business continuation in the event the owner can no longer work or passes away.

Read More…