Proper succession planning protects the company value, stabilizes teams and relationships, reduces risks and preserves business identity.

Succession planning is a critical aspect of business strategy, yet many business owners often overlook it. It involves creating a plan for someone to either own or run your business after you retire, ...

Busy running a medium-sized milling operation as a family-owned business, Lynn Stieglitz hadn’t given much thought to succession planning. But after attending a regional dairy producers meeting in ...

Succession planning is often treated as a legal or financial exercise — a “simple” matter of wills, taxes and transfer dates. Yet for family-owned farms and agribusinesses, it’s something deeper: the ...

Cultivating Strong Indiana Farm Families through the Succession Planning Process by Providing Educational Opportunities and Current Resources The Purdue Succession Planning Team, comprised of ...

Succession planning is increasing in importance given the aging of the industry. Succession planning is essentially a plan for the business beyond an advisors’ involvement. It’s also a contingency ...

In my many conversations with manufacturing industry leaders, succession planning consistently emerges as a critical challenge. When business owners start thinking about succession, it’s often because ...

For WealthProfessional, Leo Almazora discusses best practices when it comes to succession planning. For one, advisors need to delineate between working in the business and on the business. Many are so ...

According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP), yet 57% of family businesses have no formal succession plan. 1 While the ...

If you have a succession plan, Rena Striegel, president of Transition Point Business Advisors, wants to give you a high five. “I want every farmer to feel confident their succession plan is good,” she ...

CEOs always have a difficult job, but in today’s times of economic uncertainty, tough competition, increasing investor scrutiny to hit performance targets, relentless media cycles and disruption from ...

Black businesses should make succession planning a priority alongside boosting revenue and adding customers. Helping to ensure business longevity and preparing for a smooth leadership transition are ...