Those who run family-owned businesses often underestimate the need for a succession plan.
Business owners are constantly bombarded with terminology and buzzwords.
Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor.
There’s an old saying regarding family-owned businesses: “Shirtsleeves to shirtsleeves in three generations.” It means the first-generation owner started in shirtsleeves and built the company up fr
Any business owner developing a succession plan should rightfully assume that regular business valuations are a must.
Are you the founder of your company? If so, congratulations — you’ve created something truly amazing!
Craig S. Springer, CPA, Partner, Maillie LLP
3 key factors to keep in mind.