Business Succession Planning

Business Succession Planning in New Jersey: Key Concepts For You to Consider You’ve built a business and it’s very successful. You want it to continue. How do you make sure you protect it? The answer simply stated is by succession planning. Succession planning helps you: Hand pick your successor Define the terms, conditions and financial details of your withdrawal Secure the successful performance of your successor going into the future by mandating benchmarks and goals to be met. Regain possession of your business should there be a default of one or more key provisions of the succession agreement. In the absence of a well written business succession agreement you’re at the mercy of one or more key employees, investors or family members. Just because … Continue reading Business Succession Planning