Business Succession Planning: It’s Never Too Early

Business owners are so consumed by the day-to-day tasks of managing their company that they postpone critical planning to understand how to someday sell their business for an optimal price or effectively pass it to heirs. • 90% of all businesses in Wyoming are family-owned or closely held. • Within the next 5-10 years 65%-75% of business owners will transition out of their business • Only 30% of businesses successfully transition to the next generation This webinar will provide an overview of key issues a business owner must address when transferring their business, such as: • What options are available to transfer a business to family members, employees, or third parties? • How can the owner ensure that heirs are fairly considered in a business transfer? • How much value does the owner need to extract from their business transfer to meet retirement goals? A developed succession plan in conjunction with a strategic plan will maximize the value of the business now and into the future, while also strengthening the foundation of the owner’s financial plan.

Speaker(s): Matt Melinkovich is the owner of Timberline Training. As a certified Innovation Growth Coach, a level two Family Business Advisor, and a Franklin Covey Speed of Trust facilitator, Matthew brings a wealth of knowledge and business experience on the topics of efficiency, innovation, leadership, and trust. Matt helps small business owners and their families create transition plans that secure the interests of the company and provide a dignified and meaningful future for its owners and their families.

For those unable to attend ‘live” at that time, the program will be recorded and registered attendees will receive a link to the recorded session. SBDC Network programs and services are provided to the public on a nondiscriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Language assistance services for clients with limited English

Fee: No Cost