You’ve invested years of dedication into your business’ success. You’ve earned the chance to retire, but that doesn’t mean you have to close the doors for good – you can move ownership to a family member or someone you trust, ensuring the business continues to meet your customers’ needs. Succession planning can be daunting, but if done right, it locks in security for you and your family while also addressing tax and estate planning needs.
Plan for the future of your business
Ways to help your successor for seamless transition
Introduce your successor to your business advisor, key suppliers, and customers to ensure it’s business as usual after the switch
Create a document of important business information, such as preferred suppliers, specific processes, hiring practices, and more
Outline key employees and how you develop your team
Now that you’ve transitioned your business, it’s time to think about what the future holds. There are lots of options to consider including:
Another business – you may uncover a new opportunity you couldn’t explore while you were running your business
Your legacy – you could donate to charities or your community
How can Conexus help?
Our business advisors are happy to help you build and execute a succession plan that meets your needs. We will work with you to:
Outline your goals in transitioning your business
Discuss the right financial products and solutions to take you to the next step
Plan for your next adventure