What happens to your business when you’re gone?
Monday, May 22, 2017
According to the U.S. Small Business Administration, more than half of all small business owners are 50 or older. Yet, a recent survey by CNBC and the Financial Planning Association found that fewer than 30 percent of small business owners have a succession plan in place.
Thankfully, helping guidance on succession planning in available in York County. Don Freeman is owner of Agri-Products, an innovator in quality agriculture equipment. He’s getting ready to retire himself. A former YCDC founding partner, Freeman recently sat down to offer advice on the matter.
Among Freeman’s helpful tips: business owners should start succession planning 5-6 years before they plan to retire.