Exiting Your Business - Part 1: Succession Planning

Event description

The statistics on businesses surviving through multiple generations are staggering. Just making it through the second generation is a milestone event for a business. Making it through the third generation is rare and making it to the fourth generation is almost unheard of. The good news is business owners can buck these trends with proper planning. This 3-part series workshop, developed by MassMutual and SCORE, will help you plan for the next stage for your business, for yourself, and for generations to come.

This workshop begins by helping entrepreneurs understand the steps to planning for the eventual transfer of the business. This includes knowing the value of the business, choosing and preparing the appropriate successor, and having it all in writing. At the end of this section, clients should be prepared for a variety of business exit strategies both voluntary and involuntary ones.