Succession Plans Set Businesses Up for Long Term Success
Creating a succession plan – essentially planning your exit – may not be the most pleasant topic for discussion, however preparing for the inevitable is essential for a company’s survival. A 2019 Family Business Survey conducted by the National Bureau of Economic Research Family Business found that 42% of family-owned businesses did not have a succession plan in place. BBB reminds business owners that having a succession plan is key to having a smooth leadership transition and can ensure the company remains a thriving enterprise for generations to come.













