Business Succession Planning

Whether your business is a family tradition or an endeavor of partners, you likely want it protected and profitable for generations to come. With that end in mind, a sound succession plan is a must for businesses in any stage of development. Planning for the future provides for an in depth analysis of your current situation, recognition of issues that will force change and a plan for long-term continuity of success.

So when should a company start succession planning? Very simply – today. Whether your business is in its infancy or third generation, succession planning should be started early and continue as an ongoing process. Throughout, consideration should be given to both people - leadership of the company and structure - the form the company will take. Some tools include "earn-in" incentive plans, buy sell agreements, financial plans for owners, employment agreements for future leaders and a valuation of the business interests. Your team of accountants at Apple Growth Partners and your legal advisors are positioned to assist you in the development of a sound succession plan based on years of experience assisting other private companies like yours.

To begin your succession plan, contact Bob Nemeth, rnemeth@applegrowth.com.

"MSA’s team of professionals has the experience and creativity to assist us with our overall day to day tax planning as well as a sophisticated cost  segregation study.  With Dave Gaino’s guidance and input we at GDK were able to design and implement our own succession plan.  We constantly preach to our clients the importance of creating such a plan.  Now we can say, 'Been there, done that and this is how we accomplished it!' ”  - Rich Kase, President , GDK&Co