From Start to End: Simple Steps for Exiting Your Business
- Thursday, March 01, 2018 10:00 AM - 12:00 PM
- Off Campus
The statistics on businesses surviving through multiple generations are poor. Just making it through the second generation is a milestone event for a business. The good news is business owners can buck these trends with proper planning. Every business owner needs a plan for how to exit their business. This program focuses on the tactical steps business owners can take now to create a plan for exiting their business smoothly. It is a call to action for business owners to develop a plan for exiting their business, or assess the current plan they have in place to ensure their future success. This 3-part series workshop will help you plan for the next stage for your business, for yourself, and for generations to come.
Part 1: Succession Planning This workshop begins by helping entrepreneurs understand the steps to planning for the eventual transfer of the business. This includes knowing the value of the business, choosing and preparing the appropriate successor, and having it all in writing. At the end of this section, you should be prepared for a variety of business exit strategies both voluntary and involuntary ones.
Part 2: Retirement Planning Once you have determined the next steps for your business and its worth, you can start focusing on the next steps in your own life. This section will address issues that arising with having your business be part of your retirement planning, and other options to save and provide for your retirement.
Part 3: Estate Planning This workshop will culminate discussing multiple future planning scenarios, including the difference between estate reduction, liquidity and equalization, and the planning documents needed to leave a lasting legacy. It is never too early to start planning ahead.
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- Small Business Development Center
- Community Service, Conference, Training
- Faculty, General Interest, Graduate Students, Staff, Undergraduate Students