Now is the Time to Think About Your Business Succession Plan!
We define the strategy of succession planning as: As a long-term plan that ensures your firm will continue to serve your clients after you are no longer active in the business.
A survey earlier this year by CNBC and the Financial Planning Association found that while 78 percent of small-business owners intend to sell their businesses to fund their retirements, fewer than 30 percent have a written succession plan.
More than 50 percent of all small-business owners are 50 or older, according to the U.S. Small Business Administration. That means many of America’s 28 million small-business owners are coming to that point in their lives when they need to think about a transition for their businesses. (http://www.entrepreneur.com/article/248716)
What is your succession plan? At StrategyB4Tactics, we specialize in succession planning. Click here to learn about why Succession Planning is a Growth Strategy for Financial Planners.
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