June 2010 Newsletter
Succession Planning
If you suddenly become unable to work, is your business positioned to operate without you? Accidents happen. Have you prepared your business to continue without you? Will your spouse be required to quit his/her job to now manage your staff that needed constant oversight, or will your attorney decide it’s best to liquidate the business?
A succession plan is important for a business owner because:
- You build a business that can continue without you.
- Enterprise value increases.
- Your estate is safeguarded.
Succession Planning includes much more than just filling a leadership void. Check out http://www.successionplanning101.com/index.php for more details.
Whether you are a current or future business owner, talk to your Apex Advisor about planning ahead to ensure the successful continuation and eventual transition of the business in your absence. We will be happy to introduce financial and legal advisors to assist in structuring a proper Succession Plan.
Due Diligence:
When buying a business, it is critical to understand the financial history of your target business. It is the buyer’s responsibility to verify that what has been represented by the seller is accurate. Most people who buy businesses don’t have a financial or accounting background and have never been involved with buying a business before. You don’t have to do it alone. Accountants who have due diligence experience can assist you with the process. Ask your Apex Business Advisor for names of professionals who can take the headache and stress out of the process.
Recent Transactions Completed
Computer Service Business – Olathe, KS
Insurance Restoration – Topeka, KS
The UPS Store – Olathe, KS
Gas and Convenience Store – Higginsville, MO
