Preserving your business’ legacy is important. Whether your business is large or small, it’s never too early to start developing a business exit strategy. A well-planned strategy can facilitate a smooth transition and minimize disruption for you, your employees and key stakeholders.
Exit strategy planning is often overlooked in an overall business strategy, but it’s an integral part in determining a strategic direction for your company, employees, stakeholders, and family – especially a family-owned business.
Determining the type of exit strategy, ownership transfer details, price (if selling) and methods to do so, are just some of the many aspects of the overall process to consider. Most importantly, business owners need to be informed of all of their potential options before beginning the planning process.
Topics covered include:
- Strategy planning
- Types of ownership transfers to be considered
- Methods for selling a private business
- Lease-Purchase options and when to consider them
- Transaction and business structure variations
- How long does it take to plan for an Exit?
- Family transfer advantages
- What to expect in due diligence
Christine Piersall (Attorney, Williams Mullen Law Firm)
Christine Nguyen is chair of the Estate Planning: Private Client & Fiduciary Services Practice at Williams Mullen. She focuses her practice primarily on estate tax planning, estate and trust taxation and administration, and elder law. Christine has experience with conservator and guardianship matters, family limited partnerships and business succession planning. She also represents clients in commercial banking and real estate matters.
Michael Hanger (Tax Partner, Dixon Hughes Goodman, LLP)
Michael is a Tax Partner and a member of DHG’s Tax Practice at Dixon Hughes Goodman LLP (DHG). He has extensive tax planning and compliance experience and has worked with companies of all sizes in the real estate, construction, manufacturing, and distribution industries with a focus on partnership taxation.
Brad Nott (Market Executive, Commercial Banking, Atlantic Union Bank)
Brad is a Commercial Banking Market Executive for Atlantic Union Bank. He has 32 years of experience in all aspects of commercial banking including client management, loan approvals, treasury sales, and personnel management. Brad and his team focus on helping clients with financings that assist with acquisitions, working capital solutions, expansions, recapitalizations, and construction projects, as well as treasury and deposit solutions that improve cash flow and investment returns.