Business Succession Planning
If you own a small business, maintaining positive cash flow and a stable balance sheet can be an ongoing battle that consumes virtually all of your time. When you’re so focused on running your business, even retirement can often seem like a distant speck on the horizon, and the thought of handing over control of your business to someone else is hard to imagine.
However, when you leave your business – whether it’s your planned retirement or unforeseen circumstances – you will want your exit strategy clearly defined to ensure continuity and to prevent any loss of value to your business. You can do this with sound succession planning that lays out clear goals for your company so you can ensure a successful exit.
Our estate team can help you plan your succession based on what works best for you, such as:
- Appointing a family or assistant to take your place
- Selling your business lock
- Stock and barrel
- Buy/sell agreement
Questions? Fill out the form to the left to contact Pamela Wheeler.