REAP to Present at Imperial “Planning for Business Success” Event

Release Date: 

01/14/2008

Contact(s): 

Dena Beck, denabeck@gtmc.net Phone: (308) 528-0060 or – Elisha Smith, elishas@cfra.org Phone: (402) 687-2103 ext. 1007
Lyons, NE – The Center for Rural Affairs’ Rural Enterprise Assistance Project (REAP) along with many other partners is sponsoring a business succession meeting. The event will be held Tuesday, January 29, 2008, in the Conference Room of the Imperial Inn, 748 East 12th Street, Imperial beginning at 6:30 PM.
Dena Beck, REAP Business Specialist for Southwest Nebraska, will give a presentation that outlines the mistakes often made, partners, avenues for selling, and rationale for starting the process early.
“Preparing to transition your business should not be a scary thing.  To get the best price and the best person to take over, the business owner needs to be prepared. Even if you are 10-15 years from wanting to retire or exit the business, you need to be making a plan,” commented Beck.
 
Business succession planning should be a priority for every business. Eventually everyone wants to retire. Research has shown that 70 percent of family-owned businesses do not survive the transition from founder to second generation. Often the destroyer is taxes or family dispute – both issues can be addressed with succession planning.

A good succession plan can ensure that you have the funds you need to retire and that the business you have built continues to thrive in the hands of the next generation.

“If you are someone who may be interested in purchasing an existing business, you are encouraged to attend this workshop as well,” continued Beck.

More information about REAP can be found at http://www.cfra.org/reap. The Center for Rural Affairs receives funding for REAP from the Nebraska Microenterprise Development Act, Community Development Block Grants through the Nebraska Department of Economic Development, Small Business Administration, United States Department of Agriculture and other sources.

 

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