Facts on Exit Planning
- Almost 50% have no plan to transfer ownership, management and control, and the percentage is even higher for companies that have been in business for less than 20 years
- Nearly 60% of closely held companies have failed to gauge the potential tax exposure upon a transfer of ownership
- 25% are due to change hands within the next 5 years
- About 90% of owners of closely held companies would like to transfer ownership, management and control of their companies to family or non-family key employees. Less than 50% manage to do so
- Only 33% have defined criteria for hiring and promoting family members who want to take an active role in the business
- Over 33% of closely held companies have no procedures in place for dealing with disputes between family member owners
1The statistics provided above have been derived from a variety of surveys of closely held business owners including: the PricewaterhouseCoopers 2007-2008 survey of nearly 1,500 closely held companies; the 2007 survey of 800 closely held businesses by the University of Connecticut School of Business Administration Survey; and the 2003 Arthur Andersen/Mass Mutual American Family Business Survey.
| VEP Announces Partner in Mid-Atlantic Region |
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Venture Exit Partners, LLC Names New Regional Partner
Harrisburg, Pennsylvania--May 29th, 2009--Venture Exit Partners, LLC announced today the addition of Atlantic Leadership Group as a Regional Partner in the Washington, DC to New York City corridor. Gregory S. Chelap, Managing Director of Venture Exit Partners, LLC issued the following statements: "We bring together highly knowledgeable and ethical professionals from a variety of disciplines, who are dedicated to helping business owners and their advisors plan and execute the transfer of ownership, management and control. What sets us apart is our process which aligns the efforts of a company's directors, employees and advisors with the owners' objectives. We start by helping owners clarify their exit objectives and identify key drivers of the company's value. Then, we deliver results by designing strategies to build value and reduce the risks involved when transferring ownership, management and control. We are very excited about the addition of Atlantic Leadership Group to our planning team. Managing Partners Edwards Holliday and Kent McKamy each have more than 20 years of experience working with business owners to help them increase revenues, improve productivity and strengthen their leadership teams. Edwards and Kent focus on improving the value of the client's business and developing the leadership team, from growth through transition. About Venture Exit Partners
Venture Exit Partners, LLC provides business exit planning advice to the owners and senior level executives of closely held companies located throughout the United States and Canada. Venture Exit Partners, LLC is headquartered in Harrisburg, Pennsylvania. Venture Exit Partners website is www.VentureExitPartners.com. For more information, contact: Edwards Holliday 301-854-2388
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