Plan Now or Pay Later: Succession Plans Are Taking on a Greater Importance at Businesses

Renee Cordes

Source

Mainebiz

Date

5-13-2019

Pages

18-21

Abstract

Focus piece that examines how several Maine businesses are planning for future retirements. Although neither Kevin French nor Denis Landry of Landry/French Construction plan to retire soon, they realized that they needed a succession plan in place for the business. Many business owners, however, do not plan ahead. Article investigates some of the reasons why many owners do not have written exit strategies and highlights some other success stories.

Subjects

Retirement -- Planning, Business planning -- Maine

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