So after you, what will happen to the business? It’s up to you. There are three choices: Orderly transition, muddle through a mess, or complete chaos frequently resulting in abandonment of the business. Children are not always the best to take over the family business. More than 80% of businesses are owned by a family but less than a third are taken over by the kids and only 10 percent by the third generation. Employees, customers and suppliers are all watching the outgoing leader and asking what preparations are being made for the continuation of the business.
By the end of this webinar you should be able to: identify businesses that should be planning for business succession; have an intelligent discussion with clients about the need for planning; be aware of the major components in structuring a business succession plan; either undertake to help the client make a plan or refer them to an expert.
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