For many owners, business-continuity planning is comprised of creating a buy-sell agreement early in the company’s existence and filing it away. Unfortunately, on their own, buy-sell agreements are generally too simplistic to handle the complexities of exiting a business in style (i.e., selling the business when you want, for the amount you want, and to […]
For many owners, business continuity planning means simply signing a buy-sell agreement early in the company’s life and filing it away. Unfortunately, most buy-sell agreements cannot support an owner’s primary exit goals; namely, selling the business when you want, for the amount you want, and to the successor you choose.
Owning a business without co-owners can be great: You get to make all final decisions and reap all profits. But sole ownership has its disadvantages. One of the biggest is that, without a successor owner standing in the wings, your business may not continue if something happens to you.
https://www.gfpnh.com/wp-content/uploads/business-continuity-planning-sole-owner.jpg7981200adminhttps://www.gfpnh.com/wp-content/uploads/2020/07/logo-granite-financial-partners.pngadmin2022-08-22 20:30:002022-08-22 20:51:08Business Continuity Planning for Sole Owner Businesses
Patching Holes in Business-Continuity Plans
For many owners, business-continuity planning is comprised of creating a buy-sell agreement early in the company’s existence and filing it away. Unfortunately, on their own, buy-sell agreements are generally too simplistic to handle the complexities of exiting a business in style (i.e., selling the business when you want, for the amount you want, and to […]
Business Continuity Planning: Deficiencies & Remedies
For many owners, business continuity planning means simply signing a buy-sell agreement early in the company’s life and filing it away. Unfortunately, most buy-sell agreements cannot support an owner’s primary exit goals; namely, selling the business when you want, for the amount you want, and to the successor you choose.
Business Continuity Planning for Sole Owner Businesses
Owning a business without co-owners can be great: You get to make all final decisions and reap all profits. But sole ownership has its disadvantages. One of the biggest is that, without a successor owner standing in the wings, your business may not continue if something happens to you.