As has become apparent from the COVID-19 pandemic, disruptions to small businesses can have devastating impacts on local communities and the economy as a whole. With the Baby Boomer generation owning approximately 40% of small businesses and nearly 10,000 Baby Boomers retiring every day, one of the major concerns over the next 10 years is what will happen to these organizations when their owners exit.

In the September/October issue of the Nebraska CPA, Clark Youngman and Nate Patterson emphasize that with the implementation of succession plans for most businesses taking upwards of five years to come to full fruition, it's important to be proactive and put proper succession planning strategies into place now to ensure one's personal objective and objectives for their business will be achieved.

Read their full article at the link below. 

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