What is succession planning? The process of planning for the day an owner decides to step down from their leadership role in a business.


Why should a business have a written transition plan? Small businesses are the lifeblood of rural communities. The longevity of the goods and services that those businesses provide is crucial to the overall continued success of a city. Having a succession plan in place is good for a business owner and their customers. Unplanned exits do occur for a variety of reasons (such as: divorce, death, disability, departure, or disagreement), so it makes sense to be prepared.


Follow the link below for more information on succession planning:

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