How does proper planning protect the Employees of the Business?

Employees of a closely held business are protected by the smooth transition of a business to future owners because it should increase the likelihood that they will keep their jobs, current wages and position in the business. For closely held businesses, the employees often are the key to their success that provided the owners with the ability to create the wealth they have accumulated and has resulted in a close relationship between the owners and their employees. By planning ahead of time and restricting who can purchase the business and the process of purchasing a withdrawing owner’s interest, it is more likely that the remaining or new owners will keep the existing business plan and make few if any changes to the remaining employees of the business. This should result in a feeling of job security for the employees that will benefit the owners through increased productivity.

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