Business succession

Sound planning is critical to the successful transfer of a business.

The longevity of a family business depends on early and ongoing succession planning. Communicating the results of that planning to family members and other key stakeholders in a timely fashion increases the likelihood that the business and its value will endure well beyond the leadership transition.

Lack of a plan, on the other hand, can signal uncertainty in a still- uncertain market. So don't put off until tomorrow what you can do today — start your succession planning now, while there's still plenty of time.

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Sound planning is critical to the successful transfer of a business. It matters not only to the owner, but also to customers, suppliers and employees, to name just a few key stakeholders.