by Anita Sherman, CPA | Managing Partner In the last couple of weeks, I have been focusing on several of the important elements that are essential in order to successfully transfer your business to the next generation of leaders. In our March 22, 2012 enewsletter, I discussed the importance of having a process to assist […]
Month: April 2012
The Simplified Employee Pension Plan or SEP is a retirement plan designed to benefit self-employed individuals and small business owners. Sole proprietorships, S and C corporations, partnerships and LLCs can establish a SEP. The SEP plan provides employers with a simplified method to make contributions toward their employees retirement and, if self-employed, their own retirement. […]
Statistically only about one-third of family owned businesses are passed on to the second generation successfully. The odds are even smaller for a successful hand off to the third generation. According to research by the Boston-based Family Firm Institute, only 13% are successful. Why is that?