Business Succession Planning

Focused On Your Success

Of all business enterprises in North America, 80 to 90% are family-owned1.

Approximately 30% of family-owned businesses survive to the second generation (that’s the one after you), 12% to the third generation; with only 3% of all family-owned businesses operating at the fourth-generation level and beyond2.

Recent surveys of business owners by the Exit Planning Institute show that many business owners have no exit planning in place, even though they may have 80-90% of their financial assets contained within the business itself3.

Every business should have a written succession plan in place that is communicated to those that it will affect. Whether it is horizontally or vertically, you will someday exit your business. Our goal is to assist you in your own unique planning process. To work with you and your advisers; or to refer critical advisers that we trust. Our primary goal is to help you transition your business to the logical successor and facilitate your desire to be “fair” to all involved while protecting the Golden Goose (the business).

Finally, it is of critical importance to protect the value of your business as you prepare to someday enjoy the retirement that you have worked so hard to attain.

1.Astrachan, J. H. and Shanker, M. C. (2003), Family Businesses’ Contribution to the U.S. Economy: A Closer Look. Family Business Review, 16: 211-219. Retrieved November 2012
2.Family Business Alliance. Retrieved June 2014
3.Study Shows Why Many Business Owners Can’t Sell When They Want To