Almost 70% of small and mid-sized businesses will change ownership over the next ten years, but less than 4% of business owners have a formal succession plan in place.  This is a recipe for disaster.

Unfortunately, succession is not always a gradual or predictable process.  The issue could be forced by sudden illness or unexpected injury.  The best time to plan, therefore, is well in advance of your expected retirement date; five years is good, ten years is even better.

SBLR has worked one-on-one with a variety of small and mid-sized corporate clients to help them prepare an exit strategy for the future transition of their business.  As independent professional advisors, we can help accelerate the transition process and ensure that thoughtful consideration is given to all issues.  We offer expertise in tax planning, strategic planning, HR and operational consulting to ensure this process proceeds as planned. 

Contact our succession specialists today for a complimentary, no-obligation consultation.

Articles:

• Succession Planning:  It's Never Too Early To Start - how to avoid a crisis situation for your business by planning ahead for your future succession
• Introduction to Succession Planning - an overview of the various forms that succession planning can take and the pros and cons of each
• Gearing Up For Future Transition - the importance of conducting a detailed review of the current position of your business
• Developing a Transition Plan:  Phase 1 - determining the exit requirements of key stakeholders
• Developing a Transition Plan:  Phase 2 - preparing the business for a smooth transition

Key Contacts:

Jordan Gould, Partner
416.488.2345 x 281

Cary Selby, Partner
416.488.2345 x 230