Planning for the future is an essential part of running your business, so why is there a risk of your business failing when you hand it off to the next generation? It’s because the future doesn’t always go according to plan.
Do you intend to transfer ownership to a family member? Or would you rather sell your business to the remaining owners or an outside party? A succession plan can help the transfer go smoothly.
“90% of US Firms are family-owned and 33% will make it to the next generation and 15% to the third. 71% have not completed succession plans.” says Jennifer Englert of The Orlando Law Group.
A written succession plan can benefit your business by providing mutually agreeable terms of sale, assuring employees and creditors of business continuity and reducing the potential for discord and litigation.
Protecting the rights of clients and dedicated to their success. The Orlando Law Group. We listen….we care…. we solve.