COVENANT BUSINESS PLANNING SOLUTIONS

It Takes Years to Build a Business

It took years to build your business, doesn’t it make sense to spend a few minutes to preserve it?

Unfortunately, many small businesses fail to survive beyond the first generation.  One reason is the failure to plan for the disposition of the business at an owner’s death, disability, retirement or withdrawal.

As an owner of a closely held business, only three choices exist for the disposition of your business interest:

  • Sell to co-owners, family members or outside third parties,
  • Liquidate the business, or
  • Retain the business within the family.

This decision-making process may be a difficult process.  You have great investments in your business: physical, financial and emotional investments.  Any success the business has experienced came as a result of hard work, perseverance and an ability to take risks.

Those same traits that created your business success will also help you determine the right course of succession when you are ready to retire. Covenant Consulting Group is here to help you assess each disposition option and make the right choice for you, your business and the next generation.

Take advantage of this opportunity to plan the continuation of your business beyond your management.  Check out www.CovenantBusinessSD.com for more information on extending the life of your business.