CFP®, ChFC, Senior Vice President, Director of Financial Planning
Business Succession Planning
Partnering with Business Owners to Plan for the Future
As a business owner, you have done the hard work for years, creating a successful business. One day you may look up and think to yourself, “Now, what?” For every business owner, it’s important to have a plan for your personal future as well as the future of your business. Whether you are considering selling your business to a third-party or planning to pass it along to a family member, it is important to make preparations now so you can make a smooth transition when the time comes.
This preparation process is known as Business Succession Planning and involves preparing yourself emotionally for the transition, getting your personal and business finances in order, and addressing any operational issues or risk concerns for your business.
Business succession planning can take years to do it right, so starting the process early is important. Not sure how to get started? Check out our Business Succession Planning video series below for help on where to start and some key questions to ask yourself during the process:
This preparation process is known as Business Succession Planning and involves preparing yourself emotionally for the transition, getting your personal and business finances in order, and addressing any operational issues or risk concerns for your business.
Business succession planning can take years to do it right, so starting the process early is important. Not sure how to get started? Check out our Business Succession Planning video series below for help on where to start and some key questions to ask yourself during the process:
- Am I prepared to say goodbye to my business and enter into a new stage of life?
- Who can help me prepare for exiting my business?
- What steps do I need to take to sell my business for its maximum value?
- What considerations do I need to make to keep my business in the family?
- Have I created enough liquidity outside of my business to support my desired lifestyle?
- Will I need the sale of my business to fund the retirement I've envisioned?
Videos
Transition Your Business
Important Legal Disclosures and Information
- SouthState Wealth represents the collective departments and subsidiaries of SouthState Bank, N.A. that provide wealth management services. Products and services are not bank deposits, nor are they insured by the FDIC or any Federal Government Agency, and are not backed or guaranteed by SouthState Bank, N.A. or its affiliates. Securities involve investment risks, including possible loss of principal.
