2017 Business Owner Exit Planning Survey
The 2017 Business Owner Survey conducted by Jackim Woods & Co. provides some interesting insights how owners of privately held companies are thinking about ownership transition. 80% of the respondents to this year’s survey were between 45 and 70 years. The businesses they owned had reported revenues of between $500,000 to $75 million. The survey included responses from companies in the manufacturing, business and consumer services, and distribution sectors.
The survey showed that:
78% of business owners plan to exit their businesses in the next 10 years.
75% would exit today if the net proceeds were enough to ensure a comfortable retirement.
81% of business owners have no “heir apparent” or “internal successor” to take over the business.
How Prepared are Owners for an Exit?
It is interesting to note that despite the vast majority of business owners wanting to exit as soon as possible or within 10 years, very few have taken proactive steps to get prepared. This year’s study found that:
If you are beginning to think about your options, please feel free to contact us to learn more about the M&A process and how you can begin to prepare yourself and your business for a successful exit. In our 20+ years of experience working with business owners, we have learned that the most successful exits take sound planning and solid execution of that plan, so it’s never to early to begin a discussion with us.
