You’ve spent a lifetime building your family-owned business. A business succession plan can protect your legacy for the ...

If, for example, your CFO retires ... and there is no plan for transitioning management. Every business succession plan looks different. Not every business owner wants to transition their business ...

A critical analysis of the business and industry landscape will allow the business owner to evaluate and plan for the future ...

With 51% of US business owners now over the age of 55, a tidal wave of retirements and successions is expected over the next ...

For example, the plan should evaluate the future growth prospects ... The founder's remaining option was to sell the business, which he did to his employees. Your succession plan will have a much ...

Voting and non-voting stock, for example ... family member or on the business by depleting its resources. No matter what ...

Business Ownership Drafting a succession plan now can help your business stand the test of time. As a business owner, you’ve invested so much into making your business successful – hard work, time, ...

Suppose, for example, that the 100 percent owner ... Why is succession planning important for small businesses? Managing succession is a critical element of running a business, especially for small ...

The Lee family (Samsung Group) The Lee family, owners of the Samsung Group, is another notable example of successful succession planning in a family business. In 2020, Lee Kun-hee's son ...

There are all sorts of reasons farmers are lax about succession planning ... (business) side of the farm from the legacy (land). Equipment has to stay with the operational side, for example.