Business Transition Planning
Why business succession is important and how you can take the first steps
AMES, Iowa – Most successful entrepreneurs have a business plan mapping out the growth of their company, but only 14 percent of all small business owners have a plan for a transition in ownership. In an effort to help entrepreneurs plan for succession, the Iowa Small Business Development Centers are partnering with the Kossuth/Palo Alto County Economic Development Corporation to offer a business succession workshop in Emmetsburg on May 3rd at the Iowa Lakes Community College in Emmetsburg, Iowa starting at 9:00a.m.-4:00p.m..
Put Success in Succession is a day-long workshop that discusses the following topics:
- Positioning for selling
- Positioning for buying
- Transitioning the business
- Legal, tax and financial implications
- Panel discussions by local experts and resource providers
Understanding business succession and the importance of planning is essential to sustaining the wealth of a business and well-being of the community. Business owners at any stage of succession planning, or those who want an understanding of the process for the future, are encouraged to attend one of these workshops.
The cost for the workshop is $59 for the first attendee from a company and $29 for each additional attendee from the same company. The fee includes lunch and an extensive resource guide. Pre-registration for the workshops is required. For more information and to register, see your local Small Business Development Center, the Kossuth/Palo Alto County Economic Development Corporation or go to www.iowasbdc.org/businesssuccession.aspx.
The Iowa Small Business Development Center program is an outreach program of Iowa State University’s College of Business. Partially funded by the U.S. Small Business Administration, the organization has 15 regional business assistance centers located strategically across the state. Since program inception in 1981, the organization has provided expert, confidential business counseling and affordable, practical training workshops to hundreds of thousands of Iowa businesses and entrepreneurs.
For more information on Iowa Small Business Development Center programs or services, call (515) 294-2030 or visit www.iowasbdc.org.