Title

Tough Year for an Exit Strategy

Source

Mainebiz

Date

5-5-2020

Pages

20-22

Abstract

The pandemic has caused many small businesses to pause their succession planning as they turn instead to the challenges of keeping their operations going in a very different work environment. Nate Bacon, of Base Design Group is one business owner whose exit strategy planning was put on pause. Various consultants, including Jim Lyon of Summit 9 Consulting in Yarmouth, David Jean of Altus Exit Strategies, and others explain the importance of transition plans, also known as exit plans, for ensuring continuity and discuss how the pandemic will likely impact future planning processes.

Subjects

Retirement planning, Business planning -- Maine, COVID-19 Pandemic, 2020- Economic aspects

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