Items Tagged with 'succession planning'

As ASA vice president of education and training Taylor Albano puts it, it’s not theoretical — it’s practical, proven and only available through this MDM program, which has seen more than 60 employees from ASA-member companies graduate from it in the last two-plus years (the program boasts a 100 percent graduation rate).

Passing your business to a successor may seem easy, but researching potential candidates is essential. Evaluate their fit with your company’s values and strengths. Consider training a promising member of your management team early.

As 2024 ends, I’ll review last year’s predictions and share twelve trends for 2025. I’ll focus on important trends for supply houses rather than predicting the stock market. Let’s dive into my 2024 predictions.

My experience at The Beringer Group, after navigating succession planning and a sale in my family business, highlighted the complexities of M&A and Succession Planning, providing valuable insights for business owners in industrial distribution.

An exit strategy is a contingency plan for a person to exit a business in the event that it meets a substantial profit or it becomes no longer profitable. Investors, business owners, traders, or venture capitalists may plan exit strategies when become involved with a business. The purpose of an exit strategy is to limit losses or maximize personal profit when the exit occurs.

The federal gift and estate tax exemption is currently the highest it has been since the tax was enacted over 100 years ago. President Joe Biden has proposed drastically changing the estate tax in order to raise revenues for his infrastructure plans.