Highland Business Succession Planning

Highland Business Succession Planning

Being a business owner offers a lot of rewards and learning opportunities, from the ability to connect with local communities and residents to growth and innovation, and more. But owning a business is also a lot of work, and there may come a point where you’re ready to move on and retire. When that day comes, it can be comforting to know that you already have a succession plan in place. At Harvest Financial Planning, LLC, our Highland business succession planning team can help you to create a plan for your business that makes sense. Call us today for a free consultation and an overview of your options

Why Have a Business Succession Plan in Place?

When the time comes to retire, you don’t want to spend more time than you have to figure out what to do with your business; instead, you want to enter your retirement knowing that you’ve made a smart decision about what will come next. A business succession plan isn’t just a smart part of planning for the day you retire, though; it can also be advantageous to have in the event that an unexpected event happens, such as a health emergency. Having a business succession plan in place can also provide peace of mind to any stakeholders in your business, as well as family members. In some cases, a business succession plan can also help you to mitigate financial consequences at a later date.

Business Succession Planning: Your Options and Our Services

When a business owner wants to create a business succession plan, there are a few different options available. Common succession plan strategies that our clients choose include:

  • Handing the business off to a family member, such as an adult child, or another successor;
  • Letting a business partner buy out one’s shares;
  • Putting the business up for an employee buyout option;
  • Selling the business on the open market; or
  • Dissolving the business and recovering any assets possible. 

When you choose our Highland business succession planners, you’ll benefit from a team of professionals who are highly experienced and educated in business succession and exit strategies. Our team will work with you to review your business and financial situation, assess your goals, and create a strategy that prioritizes your best interests. Our services are personalized and specific to you. What’s more, we can complement our business succession planning services with other business services–depending on the stage that your business is in–including business wealth management and strategy services, employee benefit program services, and more.

Call Our Highland Business Succession Planning Strategists Today

Planning to leave your business can be emotional. But more than that, it can also be very complex, both from a legal and a financial point of view. At Harvest Financial Planning, LLC, our Highland business succession planning professionals can offer the high-quality, personalized services that you require. To learn more about how our professionals can assist you, please reach out to us directly by phone or online for a consultation. Initial meetings are offered at no cost to our clients.

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