Family Business Succession Planning
According to a 2014 survey by The Alternative Board, nearly 70% of family businesses last a single generation, and less than a third of owners have a succession plan for their family businesses. With statistics like these, it’s easy to see that it takes thorough planning—and not just wishful thinking or luck—in order to successfully pass along the family business you’ve worked so hard to create to your children or other heirs.
So how do you make certain your family business and the legacy you’ve built are ready to survive the transition? By choosing the right partner to help you make it happen.
Viking Can Help Facilitate Your Family Succession Plan, Strategy and Execution
The team at Viking Mergers & Acquisitions is ready to help with your business’ family succession planning needs, by facilitating conversations about goal alignment, business leadership and vision and working through many of the mixed emotions and strong feelings that are often inherent in family business situations. We’ll help you navigate issues like:
- Financing, ensuring you get the money you need out of the business and providing you with the financial security you need during your retirement
- Business and tax structuring, including tax mitigation and estate planning considerations
- Management and ownership concerns, including goal alignment and multi-generational planning
- Fair and equitable distribution among heirs
- Identifying sales options if the family prefers to play a limited role or doesn’t want the business
- And more
Plan Your Family Business’ Next Steps Today
Let Viking help you and your family develop a plan for the future together. Get in touch with us today to learn more about how we can help your business.