Business Succession Planning for Construction Companies: Thoughts for the Transition
The successful transition of a business’ management and ownership requires forethought. Too often, in the press of day-to-day activities, business owners lose sight of the big picture and how the business will continue without them. Whether retirement, illness or death, certain events become the master of all of us. Should such an event occur, a lack of a clear business succession plan can leave owners, employees and other parties vulnerable to unforeseen consequences.
In this joint webinar between Anchin and Cohen Seglias, a panel of wealth preservation professionals will explore the issues that need to be addressed in order to implement a successful transition. These include next generation leadership development, talent retention, and incentive compensation strategies.
The presenters will discuss:
- The nuts and bolts of succession planning
- Best ways to avoid liquidation of your company
- The sale of the business to a third party
- Good approaches to maintain and receive value for the goodwill that your business has developed
- Strategies to transfer ownership internally, whether to key employees or family members
Frederick Ackerman, CPA | Partner at Anchin
Brian Kenet, MBA | Senior Business Advisor at Anchin
Marian A. Kornilowicz | Partner & Chair, Business Transactions Group at Cohen Seglias
Phillip Ross, CPA | Partner and Leader of A&E and Construction at Anchin