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Business Transition

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Business Transition

How do you make sure your business will thrive after the current generation steps away? vNacelle is working with small business owners to assist with that transition and can provide some insights

What do more than 8 million family owned and privately held businesses in the US and Canada have in common?

–          They likely face an ownership transition in the next 10 years

–          Research says $8-$10 trillion in ownership value will be changing hands

–          70% of the owners have no transition strategy

Source: vNacelle – Note: The company has now changed its name to “The Transition Strategists”. A wide range of information is available from their website here. 

The Crucial Development Opportunities for the Next Generation of Owners in the Family Business

Most entrepreneurs by nature are lifelong learners. That skill allows them to continue to grow with their company while navigating the increasing complexity and risk company growth brings. By the time they are ready to transition their business to the next generation, operating the business has become second nature to them. They often don’t even realize just how much they know.  Read the full article here.