Chelmsford MA, February 15, 2008 – O’Hara & Company, a leading full service business financial advisory firm that specializes in guiding businesses through the exit planning process, today announced the creation of a free speaker service for business organizations.
Bob O’Hara, CPA/PFS, MST and founder of O’Hara & Company, will present a one hour program to educate the audience on the need for exit planning for business owners. This seminar discusses the Exit Planning Process, which is a comprehensive approach to business succession planning. The seminar begins by discussing the importance of determining owner objectives and business valuation. Within the context of exit planning the seminar discusses business continuity planning, estate planning and retirement. The topic of exit planning is relevant in every industry and touches business owners across the country. The statistics are startling.
• The vast majority of baby boomer wealth is held as stock in over 12 million privately owned businesses. Over the next 10-15 years, 70% of those are expected to change hands.
• According to recent Small Business Administration statistics, 40% of all closely-held businesses will transfer ownership within the next five to ten years, and that two-thirds of all business transfers are internal (either to an employee or member of the owner’s family).
• Nearly 50 percent of successful business owners hope to exit their companies within the next five years.
• The Small Business Administration observes that at any given time, 40 percent of U.S. businesses are facing the transfer of ownership issue and the primary cause for failure…is lack of planning.
“We discovered a real need to educate business owners about the importance of creating a custom strategic exit plan for their businesses. We are also finding that business owners are grateful to have an outline of how an appropriate plan works and how it will benefit them no matter what direction they choose to go,” said O’Hara. “We encourage every business owner to learn more about this important topic.”
About O’Hara & Company
O’Hara & Company was founded in 1995 by Robert O’Hara, CPA/PFS, MST to address the growing need for entrepreneurs to create a comprehensive exit strategy from their businesses. The company serves businesses ranging from $3 million to $30 million per year that have between 10 and 200 employees. O’Hara & Company assists business owners in developing a plan to exit from their business through a proven exit planning process. The company helps business owners identify and work towards achieve their financial and personal goals by creating and integrating their exit plans and their personal financial plans into a single cohesive strategy. They help discern the entrepreneur’s goals and then work with a team of professionals, including accountants, insurance companies and lawyers, to see that those goals are achieved. O’Hara & Company hosts an educational website for business owners at http://www.exitplanning-edu.com. The company is located at One Olde North Road, Ste. 101 in Chelmsford MA. For more information you may visit http://www.oharaco.com or call 978-244-9860.