Basically any and all businesses that are profitable, that have an ongoing concern, that are properly doing things on a regular basis to make profit year in, year out, really need to sit down and think about a succession plan and an exit strategy as to what they’re going to do with their own particular small business. Whether you are an individual owner or whether you are a partner in a larger operation, it is something that needs to be addressed because in the event that you become incapacitated, or you have a long-term illness, or your ultimate demise in terms of death, you really need to have a strategy and documents in place that are going to address all of those important things that happen to come up as a small business owner.
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