Business longevity is creating a business that can survive a change in ownership and/or management and thrive for many years. However, studies indicate that only 30 percent of all family-owned businesses survive into the second generation, only 12 percent survive into the third generation, and only 3 percent operate into the fourth generation and beyond. Preparing your company for longevity maximizes the likelihood of a successful exit in terms of price and overall outcome.
Sean Saari, CPA / ABV / CVA / MBA, was recently interviewed with Smart Business for their Insights Accounting spotlight feature to discuss the importance of thinking about and planning for the long-term to increase the value of a company.
Do you have questions about how you can increase value to your business? Contact Sean Saari, CPA / ABV / CVA / MBA, at 440-449-6800 or email Sean.