Worst Case Scenario – What Happens to Your Business?
KENT, Ohio — Chris Cooper, director for the Ohio Employee Ownership Center is seeing an increase of business owners not having a family member who’s interested in taking over the family business.
He encourages business owners to think outside of the family when it comes to who will run the business during a worse case scenario; part of that being management succession planning.
“One of the issues that we see many business owners have is they kind of assume that the more important they are to the everyday running of the business, the better off that business is, when in reality it’s the exact opposite,” says Cooper.
Copyright 2023 The Business Journal, Youngstown, Ohio.