When planning their estate, many parents choose to simply divide their assets equally among their children. But distributing ownership of the family business poses a significant challenge.
Buy-sell agreements typically aren’t the first thing partners discuss when forming a business. Nevertheless, it’s important to have a formal exit strategy in place when there are multiple business owners in an organization.
Death and disability are topics most of us prefer to avoid. So, it’s no surprise that many business owners fail to prepare for the possibility of losing key personnel. Unfortunately, inadequate succession planning can jeopardize the survival of your business. The good news is there are steps you can take to protect your business if …
Succession Planning 101: Preparing for the Death or Disability of Key Personnel Read More »
To be sure, not all employers will be impacted equally by the Great Resignation. Nevertheless, understanding worker preferences is essential for attracting and retaining talented employees.
Balancing your long-term objectives with family relationships can be challenging when transferring the family business. While clear documentation and open communication can make the transition easier, you’ll want to keep a few things in mind as you plan your succession.
Brett interviews Parker Smith, owner of Affordable Large Properties, a Myrtle Beach, South Carolina vacation and golf package agency that offers a superior guest experience by focusing on a smaller number of high-quality properties.
Brett Fellows Parker Smith, welcome to The Retiring Entrepreneur Podcast. I appreciate your taking the time today. I’m excited to have you. Parker Smith Thanks for having me. Brett Fellows Absolutely. So, I want to talk today, as one of our initial Podcast interviews, about Affordable Large Properties, because I think it’s really a unique …
Even the savviest entrepreneurs fear what an unexpected setback may mean for their family or their business. The good news is as business owners, we can prepare accordingly.
