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If there’s one thing that’s certain, it’s life’s uncertainty. While we all hope for the best, as a business owner, it’s important to be prepared for anything. Having an answer to life’s curveballs can help you stay in business, ensure that your legacy lives on, and that your business partners and family are taken care of.
According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP), yet 57% of those businesses have no formal succession plan. A lack of business succession planning can negatively impact business owners, as well as their heirs and employees.
There are two key reasons business owners should think about a business succession structure sooner rather than later. Learn more...
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