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Preparation Pays for Business Owners

May 02, 2024

As a business owner, you know the importance of planning ahead. But did you know that 60% of older generation business owners plan to transition their business in the next 10 years, and more than halfdo not have a formal succession plan in place?*

Research shows that business owners who start planning for their succession 10 years ahead of time have an 85% success rate, while those planning ahead by two years or less result in only a 25% success rate.* The data shows that preparation pays off.

There is SO much planning to do when building your succession strategy, and there are many moving parts. This informative whitepaper from Putnam outlines the key considerations and essential steps you’ll need to take when putting together your plan. We love helping business owners like you better prepare for the future – give us a call to discuss your unique needs.

*Statistics cited in the attached document.