Succession Planning for Family-Owned Businesses

Prepare your business for the next generation

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Transitioning your business from one generation to the next can be a complex process. A successful transition requires thorough understanding of not only your full financial picture but also the goals and visions of both the outgoing and incoming generations.

With our multigenerational family business experts guiding you through this important transition, you can plan and finance a business transfer that honors a legacy while setting up the next generation for future financial and business success.

"The program Enterprise put together to help finance our transition from one generation to the next gave us flexibility, and saved us a lot of money on debt servicing that we were then able to invest in the business."
John Pendleton, President Swagelok Kansas City

In many cases, succession planning starts 18 to 24 months before a change in leadership. With a strong financial partner at your side, you can make strategic decisions to bolster efficiency and profitability, communicate effectively with employees, and take the best interests of all parties into account. Whether your transition is months or decades away, working with a banker who specializes in multigenerational family businesses helps ensure a smooth succession and the best opportunity for success.

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