Succession/Transition Planning: None of us can work forever. Most of us don’t want to. So closely held and family-owned businesses need a plan for transitioning their companies. How do you plan and execute a successful hand-off to the next generation and help to make the business even stronger?
Recently, I participated in two panel discussions, part of Manufacturing Matters sponsored by Simsbury Bank. Our round table includes:
- Fourth-generation business owner Capri Frank of Miller Foods and Oma’s Pride in Avon (both episodes);
- Marc Reich, Chairman and CEO of Ironwood Capital, a private equity firm with vast experience in Small Manufacturing Businesses (SBMs) and family-owned businesses (episode 5);
- Lou George, an attorney and founding partner of the firm Hassett & George. P.C. (episode 6);
- Sal Giuliano, Managing Partner of Gitlin Campise Prendergast, an accounting firm that has helped many SMB and family-owned businesses with succession planning (both episodes); and
- Pam Butterfield, Founder and President of Business Success Tools and adviser to business owners and leaders on creating organizational strength and long-term success during times of transition and succession (both episodes).
There are ways to keep your business alive and have it thrive. Be sure to tune into Episodes 5 and 6:
Business Transition and Succession Planning: https://www.simsburybank.com/manufacturing-matters/