When Should a Business Owner Start Succession Planning?
The short answer is earlier than you think. Most business owners spend years perfecting their operations, building client relationships, and growing revenue. Succession planning, though, tends to sit at the bottom of the to-do list, filed somewhere between "eventually" and "when I get around to it." That delay carries real risk. According to a 2025 U.S. Bank survey, only 54% of small business owners have a formal succession plan in...
