Experts share top business succession planning mistakes, overlooked tax impacts, and why early, strategic preparation is key ...

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.

Experts say early planning, backup strategies and the right team are key to avoiding costly business succession planning mistakes.

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 ...

Succession planning in the context of family owned or controlled businesses generally has two overarching concerns; first, who will manage the business, and second, how will ownership and control ...

Yet many leaders wait too long to answer a critical question: What happens to the business when I step away? Succession planning isn’t just about a final chapter — it’s a strategic part of ...

While two-thirds (64 percent) of business owners have a succession plan in place, a new study by Edward Jones highlights the complexities and emotional challenges entrepreneurs face in preparing ...

A succession plan gives a clear outline of what should happen when you are ready to exit your business and transition it to ...

While Ms. Sable is still happy, healthy and eager to run her business, she regularly travels for trade shows and develops new products. It leaves little time for succession planning, but it’s an ...

Many advisors are retiring business owners themselves who may or may not be doing the succession planning they’re advising their clients to do. How does this issue extend to advisors?

Based here in Maine, the Institute for Family-Owned Business offers resources and peer advisory/affinity groups for guidance from those who’ve faced similar challenges. Succession planning in ...

I was invited to speak to a group of high-powered business owners ... this is the essence of a good and successful succession plan.