Small and family-owned businesses rarely employ first-rate, well-qualified talent in human resources. More typically, business owners must be jacks of all trades and serve as their own accountants, lawyers, business consultants, marketing experts, and HR wizards.
Unfortunately, that does not always work well when business owners embark on planning for retirement or business exits. To help business owners avert problems, this book will offer limited advice on the management, tax and financial, legal, and psychological issues that should be considered when planning retirement or other exits from the business.
This comprehensive approach is unique when compared to the books, articles, and other literature that currently exists on the market. This book takes on a bold and integrated approach. Relevant research combined with the rich experiences of the authors brings this comprehensive, evidence-based approach to action-based approaches for the reader.
Only 40 percent of small businesses have a workable disaster plan in case of the sudden death or disability of the owner, and only 42 percent of small businesses in the United States have a succession plan. Fewer than 11 percent of family-owned businesses make it to the third generation beyond the founder. Lack of succession planning is the second most common reason for small business failure.
Unfortunately, that does not always work well when business owners embark on planning for retirement or business exits. To help business owners avert problems, this book will offer limited advice on the management, tax and financial, legal, and psychological issues that should be considered when planning retirement or other exits from the business.
This comprehensive approach is unique when compared to the books, articles, and other literature that currently exists on the market. This book takes on a bold and integrated approach. Relevant research combined with the rich experiences of the authors brings this comprehensive, evidence-based approach to action-based approaches for the reader.
Why you should Attend
So, what is preventing you from starting this effort tomorrow? Small and family businesses are the bedrock of all businesses. More people are employed by small and family-owned businesses than by all multinational companies combined. Yet the research on small and family businesses is bleak: fewer than one-third of small business owners in the United States can afford to retire.Only 40 percent of small businesses have a workable disaster plan in case of the sudden death or disability of the owner, and only 42 percent of small businesses in the United States have a succession plan. Fewer than 11 percent of family-owned businesses make it to the third generation beyond the founder. Lack of succession planning is the second most common reason for small business failure.
Areas Covered in the Session
- Deciding What to Do: Life and Career Planning for Small Business Owners and Family Leaders
- Considering Your Choices
- Planning for Succession in Small and Family Business
- Planning the Strategy for Succession
- Recruiting a Successor from Inside, Outside, or Utilizing Other Options for the Organization
- Special Issues in Small and Family Business Succession Planning
- Family-Owned Business Dynamics and Politics
- Questions and Answers about Psychological Issues in Small and Family Business Succession
- Questions and Answers about Legal Issues in Small and Family Business Succession
- Questions and Answers about Tax and Accounting Issues in Small and Family Business Succession
- Questions and Answers about Financial Planning Issues in Small and Family Business Succession
- Questions and Answers about Talent Management Issues in Small and Family Business Succession
- Transitioning the Business and Executing the Plan
