As a successful business owner you have probably updated your business plan and taken most of the necessary steps to grow your business into the future.
But what planning have you done to ensure that you retain control of the business you’ve worked so hard to build if ownership were to transition or abruptly change in the future? How would you be sure to recognize the full value of your business? In addition, how does your plan:
- Assure money will be available when needed to buy out an owner’s interest when ownership changes?
- Allow you to benefit from increases in business value over time?
- Account for retirement?
- Account for disability?