You’ve put years of hard, smart work into your business. But research shows that, if you’re like more than 75% of U.S. business owners, you haven’t planned for what happens to your business the day you leave. Maybe that means you’re in good company. But more than likely, it means that you should begin thinking about your business exit plan.
You Can't Start Planning Too Early
If you’re blessed to leave your business for retirement or another business, you need a plan that maximizes the value you take away. If the unexpected happens, you need a contingency plan that follows your priorities. Regardless of the reason, experts recommend that you begin planning your business exit at least five years before you leave.
Integrate Your Exit Plan for Maximum Impact
Your exit plan should be integrated with your tax and personal financial plans in order to choose the right time to leave your business. You’ll want to consider your needs for financial independence. You must determine what will happen to your company. You also need an estate plan to provide financial security for your family, minimize estate taxes and ensure your assets are distributed as you intended.
Leverage An Experienced Business Exit Planning Team
HORNE Wealth Strategies guides business owners in planning for the next step. First, we listen as you tell us about your business, your family, your dreams, your goals. Once we understand your needs, our business exit planning team goes to work.
Our strength is creating a tailored exit plan that addresses your situation, including the need to turn your business assets into retirement funds. Working together, you can leave your business at your chosen time, on your terms.
The business exit planning team at HORNE Wealth Strategies is ready to help you decide if now is the time to construct an exit plan strategy. Contact Us to start preparing today.