Business Succession Planning
Do you know how you are going to exit your business? You may have a dream of going public, selling to the highest bidder, or retiring and handing over your business legacy to your family.
No matter what your dream, the truth is that many small business owners have no exit strategy for their businesses in the event of their disability, retirement, or death, and that is a huge problem. Given the uncertain nature of the economy and the limited resources that every business owner has, whether it is capital or time, it is no surprise that business owners tend to take a short-sighted approach and only focus their energies on business survival and future growth. However, a business exit strategy is an absolute necessity, not only for the unexpected like financial hardship, injury, disability or death. It is also the primary means for ensuring that when the time comes, your business ownership is handed over to the right people or wrapped up in a way that maximizes the value that you can take with you or pass on.
For small business owners, business succession planning can be closely tied to retirement planning as well. Steciuch Law can assist you in identifying the many options that are available to you in ensuring that your small business can be either smoothly passed on to the right capable people or cashed out to ensure that your family and loved ones can access the equity in your business.