Abstract

Financially Speaking: Business Continuation Planning

Author(s): Fogarty Frederick C

Issue: Mar/Apr 2004 - Overview of USP Chapter <797>

Page(s): 120-121

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Abstract

The author discusses considerations for selling a business, listing seven steps in the process, as follows: (1) determining one’s primary objectives in leaving the business, (2) evaluating the worth of the business, (3) making the business more valuable, (4) selling to a third party, (5) transferring to co-owners or family, (6) implementing continuity of the business in the case of owner death or disability and (7) providing a contingency plan for one’s family. He emphasizes the importance of covering all facets of the business continuation plan.

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