Equity Access Solutions™ was designed to meet the needs of the massive generational shift in small business ownership over the next 20 years.
35% of multi-owner firms and 9% of sole proprietors (sole owner firms and sole practitioners) had a written succession/exit plan in place in 2008, compared to just 25% of multi-owner firms and 8% of sole proprietors in 2004.*
| Current Stats of Succession Planning |
Multi-Owner Firms |
Sole
Proprietors |
| Have started the plan and will soon complete it |
35% |
17% |
| Will start the process in the next year or two |
32% |
43% |
| Will start the process in about 5 years |
10% |
23% |
| Will start the process in about 10 years |
3% |
3% |
| Have a plan drafted, but it has not been formally approved |
9% |
3% |
| Do not feel the need to have a plan, written or otherwise |
10% |
10% |
* The 2008 PCPS Succession Survey by AICPA