Are you actively planning a transition for the business you worked so hard to build? The majority of North American businesses are family-owned, yet just about 30 percent make it to the second generation. Even fewer reach the third generation. As more and more business owners prepare to retire, more and more businesses will face the issue of succession – whether they are prepared or not. This article discusses the third in a series of tips to help family-owned businesses begin the succession planning process. (more…)
Posts Tagged ‘succession’
If you’ve been considering gifting interest in your family-owned business or real estate holdings, you’ll certainly get the most “bang for your buck” right now.
The Great Recession wreaked havoc on business values, making your business worth considerably less than it once was. In our recent business valuations, we’re finding business values far below what they were two or three years ago. This means you can pass more stock in your company now than you could in a healthier economy. (more…)