Join fellow Business Owners and our guest panel for a workshop discussing Succession Planning and how to structure your business to prosper now, have resources to enjoy your retirement, and leave a legacy for your family and successors. Curt Henry will discuss the elements of a successful transition plan for your business. By structuring the business properly you will realize a much greater value at the time of transition but equally important much of what is done to prepare a business such as operating systems and strong team accountability will provide your business with immediate benefits. Value of a business is important but Transferrable Value more so. Curt has extensive management experience as Vice President and General Manger of a local manufacturing facility. Curt has been working with business owners the past 14 year helping them to grow their business as a Business Coach and Consultant. David Greene's talk will center on the pitfalls that can derail business momentum – whether that momentum has been building a short time of for generations. Minimizing the impact of taxes always helps to preserve business momentum. There are scenarios when the business and tax environments intersect in such a way that not planning for taxes can completely derail a business. Nathan Goodwin will discuss the importance of looking at the overall financial perspective of owning a business. He will help you determine the asset level needed to generate desired income and how the business fits in your total estate. Other considerations such as beneficiaries/ generational planning and investment management are some of the areas to be discussed.
Speaker(s): D. Curtis Henry, Managing Director Summit Management | David A Greene, Senior Trust Officer, First Covenant Trust & Advisors | Nathan Goodwin, Financial Planner, BCS Wealth Management
Co-Sponsor(s): KOSBE, Kingsport Chamber, TSBDC at ETSU Johnson City Center, U.S. Small Business Administration, Summit Companies, BCS Wealth Management, First Covenant Trust & Advisors
The cooperative agreement between KOSBE and East Tennessee State University is partially funded by the U.S. Small Business Administration (SBA). SBA’s funding is not an endorsement of any products, opinions or services. SBA funded programs are extended to the public on a non-discriminatory basis. Additional funding is provided by the Tennessee Board of Regents and the state of Tennessee. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Please contact Caroline Jones, Phone: 423-392-8825; Email: cjones@tsbdc.org; Address: 400 Clinchfield Street, Suite 100, Kingsport, Tennessee 37660.
Fee: No Cost