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Lay the Groundwork for a Transition

Make an honest assessment of your business from day one

May 10, 2019
Eighty-percent of business owners want to retire in the next 10 years, according to a Business Enterprise Institute survey. Unfortunately, most of those business owners have not actually created a concrete, written plan for their exit strategy. The lack of an exit plan can be problematic. It takes much longer than many distribution owners may expect to prepare their company for a transition. Whether you are planning to sell the business to a third party, pass ownership to the next generation or explore other options, preparing for a transition can take between five and seven years.

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