Three Must-Haves for Business Owners
Principal Financial Group recently released findings from a survey of over 400 U.S. businesses with an employee base between 2 and 500. Of those surveyed, more than 2/3 of business owners did not have an exit plan for their business. By not having an exit plan, does it mean these businesses are completely ill-prepared for the future?
The answer actually depends on what other planning the business owner has or has not done. For business owners not to have an exit plan may be understandable, given that many owners today are busy fighting day-to-day problems and may find it hard to focus on the next phase of their life. However, even if the owner does not want to acknowledge their mortality or life after running their business, there are a couple of vital documents every business owner needs to have in case they get hit by a bus or struck by lightning and leave this world in a hurry. Mike Oleksak 2009
