Businesses in transition program covers many issues

The Illinois Small Business Development Center of McHenry County College is hosting an information seminar for small business owners who are planning a change of ownership in the next 10 years. Beacon & Bridges Institute Inc. will provide a panel of experts to discuss the importance of planning an exit strategy.

"Time for a Change: Business in Transition," will be held from 7 to 10 p.m. Wednesday at the Shah Center, 4100 W. Shamrock Lane, McHenry.

"Business owners devote years to building their company. Their success is the result of sacrifice and hard work," said Mary Margaret Maule of the ISBDC. "It is important that they have the tools to protect their hard work by understanding the steps of the exit process; whether they are planning that transition next year or in ten years."

The program will include area experts who will discuss tax consequences, employee retention, how to value a company and the issues unique to family transitions. Attorneys Howard Lang and William Chandek will present the exit plan process. Business valuation will be covered by Joshua Nelson, Brian Voss and John Hayes of Anchor Planning & Valuation Ltd.

There will also be an opportunity for questions from the audience. For more information contact The Illinois Small Business Development Center at (815) 455-6098 or by e-mail to sbdc@mchenry.edu.

Registration fee is $39, with a discount for multiple registrations from the same business. Call (815) 455-6098 to register or for information about the group discount.