Chamber teams up with Succession Planning Program at Kent State University to help small business owners
Timely Planning helps Small Business Owners Exit their Business on their Terms, While Retaining Jobs in Our Communities. CANTON, OH (Feb. 10, 2010) – The Ohio Employee Ownership Center’s Succession Planning Program at Kent State University has partnered with the Canton Regional Chamber to present a series of two sessions for small business owners on exit planning. The program is designed to provide business owners with the information they need to get started with their business transition. Studies show that those owners who complete timely succession planning achieve a higher number of their objectives. “The consequence of the absence of succession planning is that frequently businesses are sold to competitors (often at bargain basement prices) who may consolidate operations, or the business may need to be liquidated to pay estate taxes, or in a worst case scenario, medical bills. This can lead to business and job loss,” says Jay Simecek of the Business Succession Planning Program at Kent State University. “We believe that the failure to plan for business succession in small and middle-sized closely held businesses is the leading preventable cause of job loss in the U.S.” Program Details Session One: February 17th, 2010, 8 am - 11:30 am Introduction to Exiting Your Business: Beginning the Process, Key Issues and Risks Jeffrey Halm, Partner, and Dustin J. Vrabel, Associate, Buckingham, Doolittle, and Burroughs LLP Business Valuation: The Basics - What Every Business Owner Needs to Know Steven Pittman, CPA, MBA, Partner, Bruner-Cox LLP Session Two: February 24th, 2010, 8 am - 11:30 am Essential Legal Issues When Transferring Your Business Jeffrey Halm, Partner, and Dustin J. Vrabel, Associate, Buckingham, Doolittle, and Burroughs LLP Options for Selling Your Business: Family, Inside, and Outside Buyers Steven Pittman, CPA, MBA, Partner, Bruner-Cox LLP Cost: Members of the Canton Regional Chamber - $45 for one session, $75 for both Non-Members of the Canton Regional Chamber - $60 for one session, $100 for both Location: Glenmoor Country Club, 4191 Glenmoor Rd NW, Canton, OH 44718-4077 A program of The Succession Planning Program at Kent State University (funded with support of the Ohio Department of Development) is co-sponsored by the Canton Regional Chamber of Commerce, Bruner-Cox LLP, and Buckingham, Doolittle, and Burroughs LLP. Participants can register and pay online at: www.cantonchamber.org and can contact Jay Simecek or Chris Cooper at 330-672-3028 with questions.