Make sure that your small business continues on after you retire with this sample Ownership Succession Plan for Family Business.
This sample Succession Plan is designed to assist the owners of a family operation or other small business in planning for the future of the business following the retirement, disability or death of the principal owner(s), through:
- training other members of the family or company team in management roles,
- granting stock options as incentives,
- setting up a board of advisers with expertise in financial, legal and other areas,
- developing business plans and initiatives to grow the business and protect the owners' interests.
If you run a family business and you haven't put together a succession plan yet, don't put it off any longer. Get this Ownership Succession Plan today.
Last Updated: 14-April-2016