How to Begin Transition or Transfer Process for Small Ag-Related Businesses

If you own an ag related business, have you considered when or how your business will be transition to the next generation or transferred to new owners? Today we are continuing our conversation with One Accord Capital CEO Jeff Rogers who shares the the initial steps in beginning the transition or transfer process. The first is to find a fairly sophisticate wealth advisor to help determine the end goal of the owners.

Rogers: "Would say the second one that is tied into that is which is just a function is a estate planning attorney. Third would be someone in the business brokerage or business evaluation business spaces that particularly knows their industry — in this case agriculture or trucking or equipment — that is going to be able give a relative value. But also along with almost always you will find is they will give them a set of recommendations of three, four, five things they need to do over the next five or so years to optimize what the value of that organization is going to be. That is often where we come in. Interestingly, most of the merger and acquisitions firms or business brokers or investment bankers — we work with most of them because our function is providing the operational leadership."

To learn more about the steps in transitioning or transferring your company, go to www.oneaccordcapital.com for additional resources.