The Times have interviewed the chairman of The Corporate Finance Network about her research on the demographics of business owners and the lack of Exit Planning carried out by most small businesses in this country
The article, entitled 'Baby Boomer Business Owners Must Be Ready to Hand Over the Reins' was published on 19th July 2017 and can be found here: https://www.thetimes.co.uk/article/baby-boomer-business-owners-must-be-ready-to-hand-over-the-reins-2p779hnkx
Kirsty McGregor added "This is an ever increasing problem which is rarely acknowledged. My concern is that the jobs of all those employees of small businesses that were set up in the 1960s and 1970s will be at risk if business owners don't make some radical steps to ensure there is a succession plan for their businesses. Most small businesses are not attractive to trade purchasers, for a wide variety of reasons. Most don't have established 2nd tier management teams ready to buy the business as a management buyout, and fewer and fewer businesses are being handed down generations of the same family.
"At The Corporate Finance Network we have developed a myriad of resources and tools to help business owners develop their exit plan. Please contact us at info@TheCFN.org.uk or contact any firm on the 'About Us' page to find out more."