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.