Inadequate planning and procrastination are too often the reasons why businesses fail. However, adequate succession planning can help ensure the continuity of a business. Getting started without assistance can be daunting, but waiting has a significant price. M&T Bank can help.
Did you know?
- About 90% of U.S. businesses are family owned
- However, only 30% of family-run companies today succeed into the second generation
- An even smaller number, 15%, survive into the third generation*
Access Clear and Objective Advice from a Trained Financial Planner
To begin the business succession planning process, our financial planners will start by assessing your current situation and identifying your priorities and goals. We then develop a comprehensive financial plan that includes specific recommendations tailored to the needs of your business, including the transfer of your business to family members or others in a tax efficient manner. We can offer you strategies for the implementation of a succession agreement and other planning techniques that may apply to your situation.
We recognize that your business is not static, so we’ll work with you over time to make recommendations and adjustments to your business succession plan as necessary.
Learn more about business succession planning. Call M&T Bank at 1-800-724-7788 today to begin a conversation for financial peace of mind for you and your family.
* U.S. Small Business Administration, Business Development Success Series, 2001