Exit Plans for a Small Business…Whether Successful or Failing
In response to Jean Murray’s former post on this blog, Do You Have an Exit Plan?, a reader gave some suggestions.
Not having an exit plan is like jumping from an airplane without a parachute (usually not a good outcome). There are specific things that owners can do to maximize the value of their business and reduce risks, and taxes when they exit. But it requires planning ahead. Owners who have an exit plan will always have a better landing than those who do not plan.
It is a fact that every owner will transition out of their business in one …read more