Facts on Exit Planning
- Almost 50% have no plan to transfer ownership, management and control, and the percentage is even higher for companies that have been in business for less than 20 years
- Nearly 60% of closely held companies have failed to gauge the potential tax exposure upon a transfer of ownership
- 25% are due to change hands within the next 5 years
- About 90% of owners of closely held companies would like to transfer ownership, management and control of their companies to family or non-family key employees. Less than 50% manage to do so
- Only 33% have defined criteria for hiring and promoting family members who want to take an active role in the business
- Over 33% of closely held companies have no procedures in place for dealing with disputes between family member owners
1The statistics provided above have been derived from a variety of surveys of closely held business owners including: the PricewaterhouseCoopers 2007-2008 survey of nearly 1,500 closely held companies; the 2007 survey of 800 closely held businesses by the University of Connecticut School of Business Administration Survey; and the 2003 Arthur Andersen/Mass Mutual American Family Business Survey.
| Charles M. Kail - Northeast |
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 Charles is Managing Partner of Leadership Management Institute in Burlington, Vermont. The office was established in 2004 as a Franchise Partner of Leadership Management Inc. (LMI) and serves a wide and varied client base from Vermont to Florida.
For more than twenty years Charles has been serving CEO's and owners' of small to mid-size organizations as advisor, consultant and coach. He built his practice on more than fifteen years experience as a marketing executive, entrepreneur and CEO...providing his LMI clients a Strategic Development focus that is people centered and results driven. Charles serves and has served clients ranging from banks to manufacturing, telecommunications to lotteries, and from regional governmental agencies to foreign governments. He has been published and recognized nationally for his work as a strategic planner and visionary. He is driven by a passion for helping leaders, organizations and their people develop "what matter's most" to them. Email:
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