Purdue Extension hosting workshop on succession planning

Thursday, July 20, 2017

Planning for the transfer of business to the next generation can be a daunting task that many never properly address. The transfer of business resources can involve managerial and financial risks that we rarely think about, but these risks are important to understand if our successors are going to be able to have access to the resources necessary to keep the business running and profitable. Sadly, many businesses, including farms and other small businesses, do not survive the transfer of ownership because the new owners lack ready access to the information needed to run it. Only about 20 percent of family-owned businesses survive 60 years.

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