The Time For Succession Planning Is Now ! [www.charlesjeromeware.com]
In the United States today, 90% of the 21 million or so businesses are family-owned, and 1/3 of the Fortune 500 businesses are are either family-owned or family-controlled. This, by the way, includes the world's largest retail business, Walmart.
However, only 30% of family-run companies today succeed into the second generation. And, a smaller 15% survive into the third generation. We believe, and many other experts agree with us, that one key reason for this phenomenon is the lack of an orderly succession plan.
It is very important that owners begin business succession planning while they are still healthy and active in their businesses. We believe and advise that the time to do this business planning is when the owner is between the ages of about 55 and 65. We also advise that business succession should be a process, rather than an event. And, the more time allotted for planning and succession, the better the outcome.
At the national law firm of Charles Jerome Ware, PA, Attorneys & Counsellors, we are well-experienced , highly regarded, and very successful in helping businesses make the transition through the succession process. We can help you, too.
For advice and consultation, contact us at: www.charlesjeromeware.com, (410) 730-5016, and (410) 720-6129.
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