Got you on that one, didn’t we? Everyone in San Francisco loves politics, and people always wonder about the succession politics of this great city by the Bay. Who will be the next Mayor? Who will be the next citysupervisor? That’s all incredibly important, and we love politics as much as the next guy.
But if you own a San Francisco small business, you need to think about your own succession politics. For example, consider the issues surrounding how to fund a small business succession plan. Here’s an excerpt from our July client newsletter.
Elements of a Successful Succession Plan for Small Business
The June 2013 issue of the CPA Client Bulletin described the two key elements of a succession plan for a privately held company: putting a value on the business and finding the right successor. Even with those two ingredients, however, a succession plan can’t be considered a success unless you get paid a fair price for your company. A viable small business might be worth $1 million, $10 million, or more; where will the buyer be able to get that much money?
Read more in our July newsletter, here.