Succession Plans are the Key to Successful Plans

With so many small businesses owned by baby boomers, the next five years will see a transition in ownership like never before – the statistics are unprecedented. The surprising thing is that many of these owners don’t have a succession plan in place. For some owners, the future snuck up on them and they hadn’t thought to put a plan in place early. For others, they were too busy to think about it or hadn’t decided what they wanted to do with their business.

It’s critical to have an exit strategy in place before you’re ready to sell. Getting a good team in place can help you increase your business’s value when it comes time to sell.

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