Wednesday, June 13, 2012

Small business owners: Do you have a retirement plan for your business in place?


Do you have a retirement plan (for your business) in place?  What will happen to the business if something happened to you?  Have you considered how you would get out of your business if it wasn't working out like you had planned?  

Many small business owners dive into opening and running their business without considering how to eventually get out of the business, let alone plan for retirement. As the population continues to age, more and more small business owners will be faced with 

This New York Times article mentions that if you don't have a succession plan in place, small business owners could be setting themselves up for disaster.

SBA.gov explains further:
Big dreams aside, the truth is that many small business owners have no exit strategy for their businesses in the event of their disability, retirement, or death. Given the current economy, it isn't surprising small business owners focus their energies on business survival, future growth, and even remaining active in business after retirement. However, a business exit strategy not only means having a plan for the unexpected - including financial hardship, injury, disability and even death - it also means having a plan for the succession or transfer of ownership of your business when it comes time to hang up your hat and retire.

The Spokane Small Business Development Center is offering a new and essential workshop that addresses this important issue for business owners. June 26, 2012 | 8:30 – 11 AM | $40

Plan to Finish Well: an overview of the succession process.
Paul Brown, a recognized authority on management issues will be teaching. We have known and esteemed Paul for many years. For more information and registration the direct link to this workshop is: http://www.wsbdc.org/class-detail?classid=446 .  If you prefer, you can call Cindy Doyl, Training Manager 509.358.7890 to register.  .
June 26, 2012 | 8:30 – 11 AM | $40
Spokane Small Business Development Center, 665 N Riverpoint Blvd., Suite 201, Spokane WA  99202
Please pre-register as space is limited
Up to two guests from your company may attend at no charge. One free parking pass per business at the door.