One of the many challenges of running a business is planning for the future. Whether you wish to eventually sell your company or transition it to the next generation, succession planning should be a key component of your strategic plan. Now is the time to begin thinking about your future and that of your business.
Part II of our succession planning series will cover the topic of selling your business. Research has found that 74% of businesses will end up selling vs. passing onto a family member, and Baker Tilly Capital (our mergers and acquisitions subsidiary) will go into some of the details of the sale process.
Key learning objectives:
- Succession planning basics
- Selling your business and associated steps
- Transitioning to new ownership