Ensure you and your company are protected; outline a clear plan in case tragedy strikes.

Business succession planning is essential for every business owner, but something many fail to consider. The reasons for this vary—busy running the business, unwilling to confront mortality or vulnerability, bad advice from advisors or professionals, or the lack of knowledge regarding business succession planning. Whatever the reason, the failure to develop and implement a business succession plan can have a significant adverse impact on the business, business stakeholders and the family of a business owner.

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