Business Ownership Transfer in the Construction Industry
As an owner of a family run business begins to dream about retirement, questions begin to arise about what will happen to the business. Beginning the process of a sale or transfer is hard because most people don’t know where to start. There are a few general guidelines that will set the foundation of a more seamless transition in the future.
Although this article reflects on a business in the construction industry, it truly applies to any type of business where the owners are thinking of successorship and transferring ownership to a family member. As with any major business change, be sure to consult your lawyer and accountant to help with the process as well.