Oiling the Hinges on Your Exit Strategy
Ned Minor guides business owners through an exit-planning process aimed at reaping top dollar for the sale of their companies. The Denver attorney sees that the U.S. as being on the brink of an enormous transfer of wealth, with half of the country's 9.6 million well-established, middle-market companies reporting that one or more of the owners is 50 or older. Surveys show that 80% of all business owners expect to transfer their companies to a key employee or family member when they retire -- but the reality, says Minor, is that the scenario plays out just 20% of the time.
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