Many small business owners avoid forming a succession plan—some don’t like thinking about a day when they will not run their business, others believe they are too busy, and still others don’t think that they need to worry about succession quite yet. However, it is simply never too early to form a business succession plan, especially if you care about the long-term success of your business or if you own a family business.
Here are seven reasons that you should start thinking about your business succession plan now:
Letting go of your business can be both emotional and complex—but making a succession plan can help ease your fears about the future and give you comfort that you have prepared your employees, family, and customers for what is to come. If you would like help developing a business succession plan, contact the Posey Law Firm today. Our Austin business attorneys can assist you in forming a plan that is right for you and your company. Call us toll-free: 888-269-1962.