Did you know that more than half of the small business owners in the United States are at least 50 years old or older? In the U.S. alone there are 28 million small businesses (fewer than 500 employees) and over 22 million self-employed business. According to CNBC surveys, it is believed that 80% of small-business owners plan to sell their business to fund their retirements, however only 30% percent have a written succession plan. At MKS&H, we work with our clients to be prepared, so here are our top 5 successful succession tips that will benefit small-business owners:
When I think about this time of the year, I think about cooler weather, harvesting, pumpkins and falling leaves. I also think about reflecting on the past year and planning for the next one. At this time, many organizations are conducting fall planning sessions and/or releasing new strategic plans for the future. Those plans often include key performance metrics that measure progress.
This year do you feel poised to take your company to the next level? Have you purposefully forecasted and defined your strategies for taking your company out of its current status? Growing your business is an exciting, fast pace and challenging time. Here are 4 steps you can leverage to kick-start your initiatives and to create a strong, sustainable foundation for moving forward.
Believe it or not, it’s creeping up on the end of the year again, which means it’s time to start taking stock of how things have gone over the past 12 months and looking ahead to the future. Below is our list of 5 likely mistakes for business owners to make in 2015. Read, avoid, and be ahead of the curve.