Business Succession Planning: 5 Key Resources
December 9, 2021
Business succession is a critical issue for businesses leaders and their stakeholders alike (e.g. employees, customers, suppliers, and local communities).
Research from the Minnesota Center for Employee Ownership (MNCEO) and Project Equity shows that roughly half of employer businesses in Minnesota have owners over the age of 55, reaching an age of likely ownership transition. Concerningly, however, an overwhelming majority of businesses (85%) do not have succession plans.