总有一天， construction company owners must hang up their hard hats. But what will happen to your business when you retire or move on to the next professional opportunity? And what if you suddenly can’t work for an extended period, because of illness or injury? Having a succession plan in place is key to ensuring business continuity.
Even if you’re nowhere near retirement, it’s a good idea to start work on a succession plan early. 最好的方案往往需要数年才能实施.
第一步
Among the best ways to begin building the framework of your succession plan is to determine “what you’ve got.“你知道你拥有一家建筑公司, but how much is it worth 和 what are its primary value drivers? 来确定这些东西, you’ll need to engage a qualified valuation expert familiar with the construction industry.
In addition, you should clearly outline your goals for retirement or the next stage of life. That is, do you intend to step down altogether or gradually transition to, 说, a part-time schedule? Some business owners relinquish ownership but keep a seat on the board of directors.
确保包括所有的利益相关者. Discuss your succession plan with family members 和, if appropriate, key colleagues 和 customers. Give them an opportunity to provide input 和 listen carefully to what they 说.
You’ll also need to choose the best method to transfer ownership of the company. This could occur through a sale, stock gift, buy-sell agreement, trust or other option. Don’t forget to address retirement 和 estate planning — how will your succession plan help fund your retirement 和 provide for your family 和 heirs?
修订后的商业计划
Another important step is revising your business plan to incorporate an eventual ownership change. A business plan is essentially a baseline for establishing strategic 和 financial objectives so you can monitor progress toward them.
The plan should also define the responsibilities of each executive 和 manager. Your construction company’s succession depends on the leadership team’s ability to underst和 和 carry out the objectives of the business plan after you’ve stepped down.
最后, your updated business plan should include a section on how you intend to go about identifying potential successors who are willing 和 able to take over — whether they be family members, 雇员或第三方. Describe how you plan to train 和 mentor a chosen successor. 培训可以包括行业认证课程, leadership workshops 和 business management classes. Mentoring typically involves one-on-one meetings 和 job shadowing.
专业顾问
A solid succession plan will require the input of outside advisors. Your advisory team should include a CPA, attorney 和, as mentioned, a qualified valuation expert. Many contractors also meet with business consultants or brokers, 保险专家和遗产规划顾问.
These experts can help you fine-tune the many minute details of your succession plan. 当你离开的时候, they can guide you through the execution process to minimize the financial risks 和 tax consequences of, 说, 激活买卖协议.
非常重要的项目
Even the most skillfully constructed building requires regular maintenance 和, 也许, an eventual rehab to preserve it for future generations. So it goes with your construction company’s succession plan.
正如前面提到的, the earlier you embark on putting together the framework 和 building out all the key features, the easier time you’ll have completing this very important project. We can assist you in addressing the tax 和 financial issues involved.
For more information, please contact Tom Bailey via our 网上联络表格.
委员,葡京会手机app下载 & 老葡京手机app(老葡京手机app) is a professional services firm delivering tax, accounting 和 business advisory expertise throughout the Mid-Atlantic region from offices in 马里兰州贝塞斯达 和 华盛顿特区.
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