Business Succession Planning—What Is It? One of the important decisions a business owner must face is when and how to step out of the business--in other words, business succession planning. Do you expect to retire from your business? Do you have a plan in place? What would happen to your business if you were to …
Continue reading Planning for Succession of a Business Interest
In general Perhaps you are self-employed or own a small business. Or, you may be directly involved in running a corporation or a tax-exempt organization. In any of these cases, you generally have the option of establishing a retirement plan in which you and/or your employees may participate. One of the main advantages of a …
Continue reading Retirement Planning Options for Business Owners
What are some of the issues concerning keeping the business in the family? You may want to keep your business in the family, as opposed to selling it to an outside party or another business. If this is your plan, you should be aware of some of the issues that can contribute to the success …
Gaining value from a closely held business is not guaranteed even if it is successful. Owners must spend time mapping out their exit plan with key employees and experienced advisors. If they don’t consider their options 10 or 15 years before a planned exit, they risk losing more than just money. Owners don’t have to …
Continue reading 4 Major Costs of Delayed Succession Planning
Swezey Fuel is the largest family owned full-service fuel oil company in Suffolk County. Founded by Nat Swezey in 1918, the company sold feed for horses before purchasing Dayton Hedges Coal and Feed Co. in 1921. This year, Swezey Fuel celebrates its 100th anniversary as a family-owned business. They kicked off the celebration with a customer …
