Why do business owners need a transition plan? Below are six core reasons.
1. Transitioning out of a business likely is the most important financial transaction of an owner’s life.
2. Transitioning out of a business is complex.
3. The financial security of an owner and his or her family depends on the creation and implementation of an effective transition plan.
4. Other parties may depend on the owner and the business, such as family, key management, employees, lenders, suppliers, customers…
