Plan now or pay later: Succession plans are taking on a greater importance at businesses
Attorney Peter Plumb shares his thoughts on succession planning with Renee Cordes in this recent Mainebiz article.
From the article: “Business owners who hope and pray that the business will somehow stay in the family are the ones that really need to start having family meetings early on,” he says, recommending an exit plan from the get-go: “The day you walk into the office as the chief executive is the day you want to start planning your exit.”
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