Succession Planning: What’s Your Excuse?

Are you scaring away the next generation of owners?

via AccountingToday

You know it’s important. So why do only 35 percent of multi-owner firms and 9 percent of sole proprietors have written succession plans in place?

“Most firms don’t have any plan,” Robert Fligel, president of RF Resources tells Accounting Today. “Even to do a memo would be a major accomplishment… It’s human nature; we don’t want to deal with mortality because it’s a very daunting thing. But there’s a fantastic sense of relief when you do these things. And you should think about your clients – you don’t want to leave them in a lurch.”