Do you have a plan for the future of your business?

Sixty percent of business owners do not have a plan for the transition of their business. Thirty percent of business owners never find a buyer. What does that mean for a business owner? Business owners need to ask themselves what they want for the future of their business. Leave a legacy, reward employees, keep jobs in the community?

Sue Crockett will share the impending crisis when 52,000 business owners in Minnesota are over the age of 55 and planning to exit their business in the next 3-5 years. But retirement is not the only reason a business owner needs a plan – one of the 5 D’s can enter the picture at any time. Selling the business to employees through an Employee Stock Ownership Plan (ESOP) Employee Worker Owned Cooperative (WOC) and an Employee Ownership Trust (EOT) are options that are a win-win for the business owner, the employees and the community.