Business Succession Planning
While the en masse exit of Baby Boomer-business owners is taking place, a noteworthy landslide of wealth transfer has been triggered. Surprisingly, while this monumental wealth transfer occurs, most business owners find themselves either partially or entirely unprepared to exit their businesses. A recent survey from BEI reveals:
- 17% of owners have a written Exit Plan
- 26% believe they can leave at any time, no preparations necessary
- 27% believe their companies don't have enough value for them to leave
- 27% believe that they can wait until they are ready to exit to start planning
Make no mistake, successful Business Succession Planning takes time. With BEI Certified Exit Planners (CExP) on staff, Blackhawk Bank is qualified to have skilled and professional conversations on the topics of Transition and Exit Planning.
Do you have the financial security needed to assure that the quality of your post-exit life matches or exceeds the quality of your pre-exit life? If you're not there just yet, let us help get you started.
Give Phil or Jim a call today!