The recent stock market corrections caused me to think about what’s coming for private business owners, especially those who are part of the baby boomer generation. Public businesses and private businesses do not fluctuate in value synchronously. Investors in public businesses try to anticipate the future and the value of the business will change quickly. Private businesses are affected more by the current economy, which means there is a lag until the economy impacts the business during an actual recession.
There is no denying the Baby Boom Generation (people born from 1946 to 1964) have made a significant impact on society. From infancy on, Baby Boomers have changed perceptions on everything from child-rearing to retirement. These changes have helped boost the economy of every decade since the end of WWII. And now, the Boomers are about to have another impact, although this one may not be so positive.
Topics: exit planning
“Failing to plan is planning to fail”
Every business owner, regardless of size, should have an exit strategy for his or her company. Failing to have a sound, up to date exit plan could cost an owner hundreds of thousands or millions of dollars in sale price.
Should you sell your business? Patrick M. Foley is the Vice President of Robert W. Baird & Co. and has provided us with an excellent article to help you to start planning the sale of your business. Please see the article and link below to learn more.
Less than 25% of small businesses ever sell. Engaging an exit planning advisor can be the difference between liquidating and maximizing the after-tax return from the many years a business owner has invested in building and running the business.