Financial Poise

Articles tagged: Succession Planning

Business Succession Planning

Succession Planning and Exit-Strategies Are Too Important to Ignore

Business owners say they understand the importance of transition planning, yet few actually plan their exit. What is going to happen when you finally relinquish day-to-day control over your business? Are you going to sell it and live off the proceeds? Do you have a successor lined up to continue your legacy? Only you can know but, whatever you have in mind, it pays to have a formal and well thought-out succession plan and exit strategy.

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Business Transition and Exit Planning Glossary

Assignment and Assumption Agreement An Assignment and Assumption Agreement is an agreement between a seller and buyer by which the seller (the assignor) transfers its rights and obligations under one or more executory contracts to a buyer (the assignee). The assignor may not be completely relieved of potential liability under a contract being assigned. Audited […]

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How to Find the Right Buyer for Your Company

You can sell your business to the right buyer (and avoid major headaches) with some basic understanding and the right people around you. Chances are you’ve never done this before, and almost certainly not enough to become an expert. Sometimes you only get one shot to sell it to the right buyer. And it can quickly become overwhelming without the right connections and experience.

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Study Finds Four of Five U.S. Family Business Owners Lack Adequate Succession Plan

Family businesses often carry a lot of behind-the-scenes baggage that can weigh on efforts to develop a smooth succession plan, but there are routes to success. Finding that path is vital if a family-owned enterprise is going to thrive into the next generation. Four out of five U.S. family business owners are not succession-ready, according to the latest research by Baker Tilly International, a global network of independent accounting and business advisory firms.

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