Economic Strategy Session II, Mapping the Future: Business Succession Planning
Every business will change ownership at some point, whether through retirement, sale, or life events. Leaders and employees need assurance that there is a plan for the future of the business. The main factor contributing to unsuccessful business succession is insufficient planning. Even if you’re not planning to exit soon, preparation pays.
Business succession planning is a series of logistical and financial decisions about who will take over your business when the time comes. A good business succession plan strategy is vital to ensuring the continued success of your business, maintaining continuity, and allowing for uninterrupted operations. There are many things to consider, such as tax and cash flow, insurance, liquidity, employee retention, reputation management, and customer experience.
Are you a business owner thinking about the future of your business? Even if you have no plans for your business to be handed over to someone else any time soon – this learning session is for you. Or are you seeking to support locally-owned businesses to stay in their communities or looking for local investment opportunities? Come to this second Economic Strategy Session of the year, hosted by Traverse Connect, to learn from those who have ‘been through it’ about what good succession planning looks like, the trials and pitfalls, and how you can best serve your business for the future.
2022 Series Theme: Business Bootcamp
The Economic Strategy Sessions are an initiative by Traverse Connect to engage high-level investors, community leaders, and business owners with the key pillars of our region’s economic development strategy and provide clear and transparent leadership and guidelines for the growth of our region’s entrepreneurial ecosystem. Held three times annually, the 2022 Economic Strategy Session event series is focused on Business Bootcamp resources. These presentations and discussion forums are for anyone that wants to gain insight into areas of concern that affect multiple industries, such as accessing capital and funding growing businesses, business succession planning, supplier/vendor relations, and talent acquisition. The events are co-hosted by 20Fathoms and TCNewTech.
We’re excited to bring this event series back in-person to allow for networking to facilitate convergence and collisions between our small business owners, entrepreneurs, and the region’s stakeholders, legislators, and legacy business owners.
Director of Client Services
Would your business like to sponsor this event? Check out sponsorship opportunities here, or contact Molly MacGirr, Director of Events & Programs: email@example.com