Survey 1: Pre-Succession Planning 101

Survey 1: Pre-Succession Planning 101
SUCCESSION PLANNING: Technical Assistance Program for Businesses in Ingham County
Succession Planning is an integral part of the business life cycle and long-term organizational success. The goal of Succession Planning: Technical Assistance Program for Businesses in Ingham County is to offer practical educational programming to assist Ingham County business owners in creating and implementing succession plans. The purpose of this survey is to collect information from potential participants to deliver high-value content in upcoming seminars.
1. Does your business have a physical presence in Ingham County?

YesNo
2. Was your business negatively impacted by the COVID-19 pandemic, such as reduced revenue, employment challenges, regulatory contraints, etc?

YesNo
3. Have you defined your personal goals for your business' succession plan?

YesNo
If yes, what is your number one goal?*

Maximize dollar buyoutSustainability and/or growth of businessSmooth transitionOther
4. What is your biggest concern about succession planning for your business?
5. Do you have a family member(s) that are interested in being part of your succession plan?

YesNoUnsure
6. Do you have a successor picked?

YesNo
If yes, is your successor candidate aware?

YesNo
7. Does any of your existing succession planning include a strategy to reduce income and estate taxes?

YesNo
8. Do you have a contingency plan in your current operating documents that address what happens if you suddenly are unable to work?

YesNo
9. Are you dependent on the sale of the business to meet your retirement/next adventure cash flow needs

YesNo
10. Have you recently (last 12 months) had your business valued/appraised?

YesNo
11. Did you start this business

YesNo
12. How long have you owned this business

Less than 5 years5-9 years10-19 years20+ years
13. If you are willing to share, please select the category that best describes your age

25-34 years35-44 years45-54 years55-64 years65+ years
14. What are your plans after your succession plan implementation

New businessNew careerRetirementOther (please specify)
15. If you are willing to share, please tell us how you identify your gender?

FemaleMaleNon-binaryOther, prefer to self-describe
Should be Empty:

Survey 1: Pre-Succession Planning 101

SUCCESSION PLANNING: Technical Assistance Program for Businesses in Ingham County