Transition Planning

The numbers tell the story. Up to 80% of the privately held small and mid-size businesses in this country will be involved in a business transition in the next 20 years. The baby boomer “Age Wave” is here now and will be gaining in volume in the years to come. These boomers represent the greatest entrepreneurial generation in our country’s history having created more enterprises, jobs, and positive economic impact than any other.

As owners and creators, these business men and women are now nearing retirement and becoming ready to harvest the benefits they have sewn. 70% of business owners use their business as their primary source of income. It is critical to strategically plan for the transition event which will unlock the illiquid wealth build up in the business to provide for the owner in the next phase of life. Yet the vast majority of business owners report that while the financial details of a transition are critical, the most important aspects are much more personal. Owners want to know that their life’s work, their business, will continue to thrive and provide for the next generation and in many cases, for the dedicated employees. Many owners want to step back but not necessarily step completely away from the business. Each of these scenarios is critical to understand and to tailor a strategy around so all the needs of the owner are incorporated. Our management consultants deliver optimal results satisfying both the personal and financial objectives for the owner.