Entrepreneurs are innovative, self-starters and motivated beyond belief. We, in economic development, marvel at your tenacity and sheer will-power.
When starting a business, you have created a step-by-step plan on how to begin, when and where to start, detailed your business plan with extensive projections, and forecast the possible highs and lows of your new venture. You have detailed every phase of your project, and what needs to be done to make the next phase a success. This commitment to success is awe-inspiring. Often, you spend so much time and energy planning and cultivating your “baby,” but most times very little effort at planning for your exit.
With over 50% of all business with employees currently in the ownership hands of the Baby Boomer Generation, our society is poised to experience one of the greatest transfers of capital ever.
In New York State alone, that translates to 181,370 businesses employing 1.6M people (from a Project Equity report using US Census, 2012 Survey of Business Owners).
Read articles and advice written by our very own Onondaga SBDC Business Advisors!