Busting the four myths of business transition planningKey points Planning for business transition doesn’t mean giving up control of your company. Transition planning isn’t a distraction, it’s another component of protecting and strengthening the legacy you’ve built. As a business owner, you owe it to yourself, your family, employees, and customers to plan ahead.If you are a business owner who has put off creating a transition plan for your business, you are not alone.
Learn about the benefits of a buy sell agreement.
A buy sell agreement is an invaluable tool to help preserve a business’ long-term viability.
It helps to ensure that each departing owner receives a fair price for his interest, and establishes a funding source for the purchase of each departing owner’s interest.
The agreement should be treated as a “living document” that will evolve as a business moves through its life cycle, and the owners’ personal circumstances change.