Business Succession Planning
Are you faced with a difficult decision regarding the transition of your business? Every owner of a private business will ultimately face the challenge of transitioning that ownership. Unfortunately, most business owners are so preoccupied with the day-to-day struggles of running a business that they do not see the transition issue coming until it is staring them in the face. All too often it is then too late to accomplish the transition effectively.
There are generally two types of events that trigger the business ownership transition, voluntary and involuntary transfers.
- Transition within Family
- Sale of Business
- Legal or Creditor Action
Each trigger event presents a unique set of problems and opportunities. But there is one truth common to all, if you plan the transition well before the triggering event occurs, the transition usually can be accomplished to meet your objectives. We at Braziel & Associates, LLC would be proud to develop a business succession plan that will meet your unique needs.