Creating a business succession plan is critically important.
For many small business owners, the thought of transitioning out of their business may be years away, if ever. In fact, in a recent Wells Fargo survey, more than half of small business owners said that if money were no object, they would continue working full or part-time in their current business. But even if your plans to retire or transition your business are distant, planning for your company's future now will help ensure long-term success.
Creating a business succession plan is critically important and should be part of the overall business planning process.