Succession Strategies for Business
Planning for the future starts today!
Considering your business succession plan is key for every business owner, yet we often don’t spend enough time thinking about the future. Creating a proper succession plan will help you avoid serious financial problems at retirement and will ensure you and your family have funds earmarked for the transition or sale of your business with the highest possible valuation.
It is estimated that only 20% to 30% of businesses that go to market actually sell, and even when they do sell, the process of marketing and selling a business will likely span several months. If you or your family can’t find a buyer, or don’t get the value you expected from the sale, how will you fund your retirement? If you pass away unexpectedly, would your family members be able to maintain their standard of living and pay necessary taxes and expenses during the sale period, or if your business doesn’t sell?
Join us in discovering the answers to these questions!
About the WBC
The Liftfund Women’s Business Center is dedicated to supporting entrepreneurs, especially women and minorities, and is funded in part through a cooperative agreement with the U.S. Small Business Administration’s Office of Women’s Business Ownership.