When considering business succession planning, here are some questions to seriously consider:
Would your business survive if you’re no longer here?
What would happen to your business if you were incapacitated or unable to communicate?
In an emergency situation, would your family or staff know how to operate the business, access critical business accounts, process orders, pay bills, and pay your employees?
If you decided to retire next year, could the business survive without you and your expertise?
Succession planning is a process and failing to plan to transfer your business to a family member could result in extensive financial losses and hefty estate taxes for your heirs. At BST, we can help you establish a succession strategy that will preserve your family’s wealth, as well as the future of your business.
Our business succession planning services are geared to closely-held business owners and family-owned businesses. We can help you prepare for the future, including: