Whether selling business shares to a partner, selling the business outright, or transferring the business to family members, business owners must carefully examine issues and opportunities related to succession planning. Bein Consult recommends the business’s current and future financial picture be closely reviewed to simplify the succession planning process. Attention should be paid to investigating tax implications, how the transition between managers will go, and what the value of the business is in the current market – both financial and in terms of goodwill.
