University of Minnesota Extension offers business succession strategy course starting June 2
Learn strategies to successfully hand off a business to a successor with a University of Minnesota Extension course on business succession strategy.
ST. PAUL — University of Minnesota Extension beginning June 2 is offering a five-week course focused on business succession strategy, according to a news release from the University of Minnesota Extension.
It is estimated that approximately 50,000 businesses in Minnesota are owned by individuals 55 years old and older. Experts recommend starting succession planning at least five years before handing a business off to new owners.
Not only is succession planning recommended as a way to prepare for retirement, but also as part of preparing for the “5 D's” that can occur: death, divorce, disability, disaster and disagreement.
The online course is designed to offer a supportive, confidential learning space for businesses of all types and sizes. Business leaders will learn about options, gain skills in strategy and learn from others in order to create a comprehensive succession plan.
The course was well received when it was offered earlier this year, with 90 percent of participants indicating they’d recommend it to other business owners. Another session will begin Oct. 6.