DOES YOUR SMALL BUSINESS PASS THE 'HIT-BY-A-BUS' TEST?

Succession Planning

According to the Small Business Development Center (SBDC), 40.3 percent of family-owned businesses are looking to retire in the immediate future. However, 47 percent of those same businesses do not have a successor lined up. 
Taking on an established business is a great opportunity for people to build and to be their own boss. On the other hand, identifying a successor can be stressful within a family.
There is a disconnect between those wanting to sell their business and those wanting to take on an established business. The Greater Des Moines Partnership is using this as an opportunity to connect both sides. We’ve put together a Succession Planning Advisory Network (SPAN) made up of individuals with experience in succession planning; either for their own businesses or on behalf of others. They are available to provide assistance and answer questions for businesses looking at the next chapter of ownership. 
Find additional information here and click on the Succession Planning tab or to read the article click here.