Clute Wealth Management

Transitioning from a founder, or any long-time owner, has a lot of inherent risks, especially for small businesses. Planning ahead (starting even earlier than you probably think) can help to mitigate many of those risks.

Family Business Succession Planning: 5 Steps to Avoid a Worst-Case Transition Small and medium-size businesses employ nearly 46% of Americans and there are 6 million small businesses expected to go through an ownership transition by 2035.

As a small business owner, things can be a little different than if you're the owner of a large business. Avoid these 5 common mistakes that might be hurting you without even realizing it:
1. Not understanding standard bookkeeping forms.
2. Underestimating cash flow/ Not enough set aside for expenses.
3. Trying to do everything completely on your own.
4. Not having crucial legal documents in place, especially if you have a business partner.
5. Having combined personal and business accounts.

Disclosure: The opinions voiced in this recording are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. #1119131 on 6/3/26

Don't Make These 5 Common #SmallBusinessOwner Mistakes! - The Money and You Minute As a small business owner, things can be a little different than if...