One of the biggest mistakes a business owner can make is to put off proper planning. The opportunity costs of putting off planning until a major event (such as a lawsuit, sale, retirement, disability or death) can be very damaging to the business and to the owners. We can help you to build planning techniques into every stage of your business.
Buy-sell agreements are as important for small family businesses as they are for unrelated parties. Consider the five d’s – divorce, debt, disability, disputes and death. If any of these events impacts an owner, it can cause a lot of harm to an unprepared business. If you are in business with a family member, consider what happens with his or her interest in the business in the event of death, divorce, etc.