Small businesses are the backbone of this country. They employ more than half of the domestic workforce and contribute greatly to the economy. 9 out of every 10 small businesses are family-owned. But most of those do not make it past the third generation of family ownership. Many small business … [Read more...] about How to Create a Business Succession Strategy
Minnesota Business Planning
Estate Planning for Your Minnesota Small Business
When it’s time to start your estate planning process (that time is right now, by the way), entrepreneurs need to remember to take their small businesses into consideration. Whether you own the entire business outright and work for yourself or you simply own a portion of the entity, you will … [Read more...] about Estate Planning for Your Minnesota Small Business
Business Succession Planning Tips
Business succession plans contemplate and instruct regarding any changes in future ownership and management of a business. Most business owners know they should think about succession planning, but few actually end up doing so. It is hard to think about not being in charge of the business you have … [Read more...] about Business Succession Planning Tips
Family Business: Preserving your Legacy for Generations to Come
Your family-owned business is not just one of your most significant assets, it is also your legacy. Both must be protected by implementing a transition plan to arrange for transfer to your children or other loved ones upon your retirement or death. More than 70 percent of family businesses do not … [Read more...] about Family Business: Preserving your Legacy for Generations to Come
Own a Business? You Need an Estate Plan
A small business is a part of your identity, not to mention your livelihood. Minnesota business and estate planning lawyers look to protect both aspects of this should you die or become incapacitated. Advanced planning is one of the smartest things that you can do to ensure that your small … [Read more...] about Own a Business? You Need an Estate Plan
Preparing Your Business For The Unexpected In Minnesota
For many small business owners in Minnesota, typical business planning centers on where you are now and how to ensure growth in the future. What often goes overlooked, however, is how to properly protect your business after you are gone. Sure, you may have thought about who will take over in the … [Read more...] about Preparing Your Business For The Unexpected In Minnesota
