Management Consultants North Las Vegas NV

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Leadership Development Group
(702) 283-4937
6533 Birdhouse
Las Vegas, NV
 
Purple Sage Trailer Park
(702) 459-8717
4362 E Lake Mead Blvd
Las Vegas, NV

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Vegas Valley Business Forms
(702) 649-1200
6885 Speedway Blvd Ste Y 101
Las Vegas, NV
 
Mission Industries
(702) 639-2525
1 W Mayflower
Las Vegas, NV
 
Kevin Streit & Associates
(702) 528-5808
4113 Herblinda Ln
N Las Vegas, NV
 
Secured Fibres
(702) 643-5718
4751 Vandenberg Dr
N Las Vegas, NV
 
Housing Authority-Clark County
(702) 438-6437
1950 N Walnut Rd
Las Vegas, NV

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Gemark Services
(702) 255-3073
6120 N Hollywood Blvd Ste 107
Las Vegas, NV
 
HR Transportation, LLC
(702) 368-5655
4125 Arctic Springs Ste 10
Las Vegas, NV
 
Barclay Corp
(702) 362-2822
3450 W Cheyenne Ave
North Las Vegas, NV

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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