Chapter Purpose: The purpose of the EPI West Michigan Chapter is to create a forum where local professional advisors can collaborate to address the needs of their community. We develop educational programs for business owners that can help both parties better prepare for a successful exit of a business. EPI West Michigan Chapter seeks to to develop, encourage, and foster the adoption of best practices for the exit planning profession and promote the common business interests of advisors who endorse them.
Recent studies show that 66% of the current American business market is owned by Baby Boomers, who are set to transition over the next zero to ten years. Statistics also show that only 20% – 30% of businesses that go to market actually sell; leaving up to 80% of those without solid options to harvest their wealth and ensure economic continuity into the next generation. An owner who is “ready” with an attractive business greatly increases the odds that the business will survive a transition of hands. The question is, how ready is the national marketplace to succeed?
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