Studies Show That Over 65% of Business Owners do Not Have an Exit Strategy, Yet Plan on Leaving Their Business in a Couple of Years
Could have tremendous impact on the US Economy – SCORE Seminar planned in December.
Ridgefield, CT, November 06, 2008 --(PR.com)-- Princeton Capital Strategies, LLC and SCORE will hold a seminar on December 6th, 2008 to help business owners plan a successful exit strategy for their businesses. The business owners will learn how to successfully plan for succession or an exit and get the most value for their business through proper preparation of their business for sale, merger or acquisition, tax strategies, and retirement planning.
According to a MassMutual Survey published in 2007, within the next decade over 40% of small business owners are expected to retire and most are not prepared to. Less than half of those expecting to retire in five years and less than a third of those expecting to retire between six and 11 years have selected a successor. Almost a third of these small business owners have no estate plan beyond a will. This explains why about 70 per cent of family businesses never make it to the second generation, and a stunning 90 per cent of family companies go bust before a third generation can take over the management of the firm according to Grant Thornton.
“This problem goes way beyond protecting a traditional business within a community”, claimed Ken Ducey, CEO of Princeton Capital Strategies, LLC. “Small businesses make up 64% of the GDP of the US, and employ 62% of the workforce. If these business owners fail to transition their companies successfully, it will have a substantially detrimental effect on our economy over the next decade.”
The morning seminar will show small business owners how to plan ahead to have a successful exit strategy whether you expect to sell your business to a strategic acquirer, a merger or acquisition, succession planning to a family member or management buy-out, tax-effective transfer planning, and retirement planning. Admission is $25 per person.
Princeton Capital Strategies, LLC assists business owners seeking to exit or sell their business with a proprietary and custom process proven to obtain maximum value with the greatest amount of efficiency. Princeton Capital can bring more qualified buyers to a business owner in less time, because our methods come from world-class investment banks instead of typical business brokers.
SCORE is a Resource Partner of the US Small Business Administration which offers free confidential mentoring, coaching & counseling services to existing, new, and future businesses.
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If you would like to register please email seminar@princetoncapitalllc.com, call (203)847-7348, or go to www.princetoncapitalllc.com.
According to a MassMutual Survey published in 2007, within the next decade over 40% of small business owners are expected to retire and most are not prepared to. Less than half of those expecting to retire in five years and less than a third of those expecting to retire between six and 11 years have selected a successor. Almost a third of these small business owners have no estate plan beyond a will. This explains why about 70 per cent of family businesses never make it to the second generation, and a stunning 90 per cent of family companies go bust before a third generation can take over the management of the firm according to Grant Thornton.
“This problem goes way beyond protecting a traditional business within a community”, claimed Ken Ducey, CEO of Princeton Capital Strategies, LLC. “Small businesses make up 64% of the GDP of the US, and employ 62% of the workforce. If these business owners fail to transition their companies successfully, it will have a substantially detrimental effect on our economy over the next decade.”
The morning seminar will show small business owners how to plan ahead to have a successful exit strategy whether you expect to sell your business to a strategic acquirer, a merger or acquisition, succession planning to a family member or management buy-out, tax-effective transfer planning, and retirement planning. Admission is $25 per person.
Princeton Capital Strategies, LLC assists business owners seeking to exit or sell their business with a proprietary and custom process proven to obtain maximum value with the greatest amount of efficiency. Princeton Capital can bring more qualified buyers to a business owner in less time, because our methods come from world-class investment banks instead of typical business brokers.
SCORE is a Resource Partner of the US Small Business Administration which offers free confidential mentoring, coaching & counseling services to existing, new, and future businesses.
###
If you would like to register please email seminar@princetoncapitalllc.com, call (203)847-7348, or go to www.princetoncapitalllc.com.
Contact
Princeton Capital Strategies, LLC
Ken Ducey, Jr.
(888)613-4995
www.princetoncapitalllc.com
Ken Ducey, Jr.
(888)613-4995
www.princetoncapitalllc.com
Contact
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