Research shows that 70% of family businesses will not make it to the second generation, and that 90% will not make it to the third. Yet most family and privately held businesses do not have a leadership and capital succession plan in place.
REDWLLC, one of the largest and most respected certified public accounting and business consulting firms in the Southwest, is teaming up with Comerica Bank to host a series of complimentary seminars designed to provide practical guidance and answers to many tough questions about succession planning that business owners need to face.
The first session of the series will be held Thursday, October 30, 2014 at the Royal Palms Resort and Spa. Speakers Sandy Abalos, CPA and Principal in Charge of REDW’s Phoenix office, and Joe Maturo of Rivers & Moorehead PLLC will address the key roadblocks to successful planning and create a framework in which business owners and top leaders can effectively turn talk into action.
“Many business owners are so focused on day-to-day operations that they often neglect to think about planning for their future. It is totally understandable, but very risky,” said Christina Roderick, Senior Manager in REDW’s Phoenix Tax Department. “Our goal is to help business owners understand those risks and what proactive steps they can take to make succession planning not only a top priority but also an evolving, dynamic and productive process.”
“This seminar series will provide business owners with the opportunity to learn about various succession plans and show them what steps they can put in place now to maximize the value of their business in the future,” added Kevin Draper, Vice President, Relationship Manager, Comerica Bank.
Session topics will include:
• The top 5 myths about succession planning
• The risks of delaying succession planning
• The options available for structuring a plan
• Critical elements of succession planning, and how to apply them to your organization
For details or to reserve your seat, email Christine Egter or call her at 602-730-1150.