Each business owner has to make a sequence of decisions about the future of the relationship between his/her business and the family at the current time and into the future. Central to the process is the initial decision about whether a business plan should include keeping the business in the family through the foreseeable future, determining the factors present do not permit retention and that the business should be sold (implying the existence of a viable buyer) or whether a liquidation is appropriate (or perhaps inevitable).

Continue reading to better understand the factors you must consider in business succession planning.

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