The Lifecycle of Business Ownership
The average lifespan of a small business is roughly 8.5 years. Family-owned businesses typically last significantly longer, averaging 24 years. Whether you're in year three or year twenty, understanding where you are in that arc — and what typically happens next — is the first step toward ensuring your exit goes the way you want it to. 73-76% of employer-business owners plan to eventually sell, transfer, or exit their business. Most never get there the way they expected. How business...
