Succession Planning
By 2030, all Baby Boomers will be 65 or older. Many are business owners who must decide what to do with their company when they retire.
By 2030, all Baby Boomers will be 65 or older. Many are business owners who must decide what to do with their company when they retire.
It is natural to think about life after your business but rushing a decision could have major consequences. Your bank can assist with establishing a succession plan to safeguard against the unexpected and ensure goals are met.
Ideal succession planning starts as soon as a business begins gaining traction. FNB recommends acting at least two years out from planned transitions with a focus on four foundational steps.
Your exit plan will be as unique as your business. Contact your advisor to discuss the solution that is best for you.