Understanding Business Succession Planning
As a business owner, you have put in countless hours and resources to build your company. But have you thought about what will happen to your business when you retire or pass away? This is where succession planning comes into play.
Succession planning involves creating a plan for the transfer of leadership and ownership of your business to another individual or group. This is crucial for the long-term success of your business, as it ensures a smooth transition and minimizes any potential disruptions.