Management Consultants Daphne AL

This page provides relevant content and local businesses that can help with your search for information on Management Consultants. You will find informative articles about Management Consultants, including "Succession Planning For Family Businesses in the Aftermarket". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Daphne, AL that can help answer your questions about Management Consultants.

Mar-Kee Consulting Group Inc
(251) 621-7010
26248 Equity Dr
Daphne, AL

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Asset Management Group LLC
(251) 694-3005
63 S Royal St
Mobile, AL
 
Fountainbleau Management Services LLC
(251) 342-4441
3901 Michael Blvd
Mobile, AL
 
Cherry Bekaert & Holland LLP
(251) 343-3700
917 Western America Cir
Mobile, AL
 
Sonny Callahan & Assoc
(251) 602-4950
602 Azalea Rd
Mobile, AL

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Lumpkin & Associates
(251) 928-1736
305 N. Section Street
Fairhope, AL
 
Professional Management Services
(251) 471-5509
2504 Dauphin St Ste D
Mobile, AL
 
Dupont Group
(251) 344-2566
800 Downtowner Blvd
Mobile, AL
 
Percy Associates Inc
(251) 602-0007
812 Brighton Pl
Mobile, AL
 
Retail Management Group
(251) 460-0478
857 Downtowner Blvd Ste F
Mobile, AL
 
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Succession Planning For Family Businesses in the Aftermarket

According to the Small Business Administration, about 90% of American businesses are family owned or controlled. Ranging in size from two-person partnerships to Fortune 500 firms, these businesses generate about half of the nation’s Gross National Product.

Family businesses face a unique set of management challenges stemming from the overlap of family and business issues.

• Only 40% of family owned businesses survive to the second generation, 12% to the third and 3% to the fourth.

• Family owned businesses account for 60% of total U.S. employment, 78% of all new jobs and 65% of wages paid.

• Among the companies listed on the Standard & Poor’s 500 Index, 34 percent are family businesses.

• Nearly 40% of family businesses in America will be passing the reigns to the next generation over the next 5 years.

• There are 1.2 million husband and wife teams running companies today.
 

55% of CEOs Due to Retire within 5 Years Have Not Yet Chosen Their Replacement
Often, business owners are busy dealing with day-to-day issues and end up failing to attach enough importance to planning for their succession. Common reasons include resistance by the owner to let go of the reins, fear of retirement or inability to find or choose an effective successor. Transferring ownership can be highly emotional and complicated, which is why often it is ignored until it becomes a pressing issue.

It’s Never Too Early to Begin Planning for Succession
This one day seminar will assist in various aspects of succession planning. Clearly, the longer the succession plan is in place, the smoother the transition will be. Unforeseen events often cause a rapid (and frequently poorly planned) transition of the family business. A family business owner’s decision to retire is not as simple as no longer going to the office. Key questions need to be answered before the family owned business owner can “leave” the business:

    • Will he or she have enough money at retirement?

    • Who is going to own and manage the business?

    • How will ownership and management be transferred?

    • Should the business be carried on or sold to a third party?

A proper business succession seeks to alleviate or lessen these issues by setting up a smooth transition between the current business owner and the future...

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Babcox Media • www.babcox.com
3550 Embassy Parkway
Akron, OH 44333
330-670-1234 • (FAX) 330-670-0874