Business Succession Planning

Business Succession Planning

When developing a succession plan for your

business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to family members, co-owners,

employees, or an outside party? The key is to pick the best plan for your circumstances and objectives, and to seek help from financial and legal advisors to carry out this plan.

A business plan can be your guide to growth

A Business Plan Can Be Your Guide to Growth

Whether you're a current business owner or a

budding entrepreneur burning with the next great

idea, one of the most important steps you can take on your road to success is creating a business plan. Why? A well-thought-out and well-written business plan captures your vision, illustrates it for others (including potential lenders and investors), and

creates the roadmap you and your management team need to guide you through the growth of your business. Consider the following points: