The Business Succession Planning Conundrum

A recent survey of family businesses suggests that many business owners are putting their wealth and legacy at significant risk. The survey, conducted by PwC, found that a shocking number of respondents do not have a formalized plan for business continuity: only 18 percent of the family businesses surveyed stated that they had a documented succession plan. This lack of formal business succession planning for a closely-held corporation or family business can lead to significant business continuity issues and loss of income and opportunity for management and employees alike in the event of the death or disability of a business owner.  Click here to continue reading or click in the attached pdf.