(OSHKOSH, Wis.) – In its most recent Blue PaperSM and podcast release, promotional products retailer 4imprint, highlights succession planning. Written as an overview for owner-managed companies and baby boomers, this 4imprint version of a white paper identifies the benefits of documented succession plans, and the impact of baby boomer-owned business transitions on the labor market in the next 15 years.
According to a survey conducted by Atlanta-based financial firm White Horse Advisors:
- Among the estimated 15 million to 18 million closely-held businesses in the United States, about 60 percent are owned by baby boomers.
- Of those that plan to retire in the next 10 years, only one in 10 has a succession plan.
“These statistics show that developing and implementing a succession plan is vital to the future health of businesses,” says Kevin Lyons Tarr, 4imprint president.
The Blue Paper and podcast focus on five key reasons to have a succession plan:
- Unexpected death
- Shrinking buyer pool
- Ease of transition
- Long term profitability
- Tax mitigation
“With the vast number of boomer-owned businesses turning over in the next decade, now is the perfect time for those owners to begin putting a solid succession plan together,” states Lyons Tarr. “We hope this Blue PaperSM and podcast will provide insight business owners can use to begin their planning efforts.”
About 4imprint Blue PapersSM
4imprint Blue PapersSM are in-depth, how-to articles, distributed to 4imprint customers to help their organizations succeed. Accessible at www.4imprint.com/bluepapers, Blue PapersSM have covered popular, cutting-edge topics such as podcasting, online social networking, search engine optimization (SEO) and guerilla marketing.
4imprint is part of 4imprint Group, Plc, a publicly traded company on the London Stock Exchange, and serves more than 100,000 businesses with its innovative promotional merchandise throughout the United States and Canada. For more information, log on to www.4imprint.com