What are our resources on succession or exit?
Businesses end for an endless number of reasons, but how they end boils down to one of four ways:
- Closing
- Selling
- Transferring
- Bankrupcy
The SBA has a useful guide on how to plan for an exit, detailing the pros and cons of different choices and checklists of details to attend to.
The NYSBDC offered two client webinars on Exit Strategy with Peter Peppas, which are available to watch online.
Part 1: Valuation [Watch on Youtube] Part 2: Completing the Deal [Watch on Youtube]
Another option is to sell the company to the employees. This is an uncommon type of exit and therefore the least understood, but it offers excellent benefits to staff and communities.Check out this webinar with Rob Brown from the USDA Cooperative Development Institute and Joe Marraffino from the Cooperative Fund in Ithaca. [Watch on Youtube]
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