What is Succession Planning?
Do you know what you will do with your business or farm if you are disabled, retire, or pass away unexpectedly? Succession planning is the process of identifying who is going to run your business, how they are going to assume control of it, and how you are to be compensated for your equity.
Case studies will soon be available for you to read that might be helpful in understanding the concept and potential issues of which to be aware.
Should you have a Succession Plan?
You have worked too hard building a successful enterprise to risk not planning for succession. It is important to give proper foresight and thought on the most effective way to pass on your business to the next generation. We don't just want to see your business survive, we want to see it thrive.