Running a business is an intense, all-consuming undertaking. With endless near-term challenges to contend with, and little time to spare, you may think that planning for business succession is a problem for a distant future.
But for family businesses or closely held corporations, it’s never too early to start planning for succession. In fact, time is of the essence. That’s why Boxelder Consulting is ready to guide you through the process.
Why Plan for Succession Now?
It’s far too easy for business owners to delay planning for succession. Many are too focused on the immediate challenges of their business. Others may recognize the necessity to plan for succession but are intimidated by the process.
Regardless, all business owners must eventually face the reality that they cannot run their business forever. Moving along without detailing a succession plan invites conflict within your ranks, sows uncertainty in your future, and hurts your overall competitiveness. For family businesses, the emotional stakes are even higher. That can be a lot to handle for your leadership team (we’ve all seen “Succession,” right?).
But here’s the good news: you don’t have to plan for succession alone.
Making a Plan That’s Right for You
The team at Boxelder Consulting can help you build a succession plan that drives the growth of your business, minimizes your tax liability, and prepares you for a comfortable retirement. A great succession plan will preserve the value and wealth you have built over years of hard work. For family businesses, it can promote unity and good will.
Since every business is unique, Boxelder will tailor your succession plan to your specific goals. Above all, our process starts with listening. What is it that you want to accomplish when you reach the end of your tenure? Once we understand your goals, we can help you reach the future that you envision.
A Whole Team Behind You
Boxelder’s team of business consultants, tax attorneys, bookkeepers, and CPAs boast decades of combined experience — and we’re eager to put it to work.
Our integrated approach informs all of our services, and our team’s broad spectrum of expertise allows us to go beyond just the basics of succession planning. We can work through the nitty-gritty details of tax strategy, financial planning, and bookkeeping, while always working toward the larger mission.
The goal: build a succession plan that’s right for your business and execute.
If you have any questions about our business succession planning services, give us a call today!