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Succession Plans Simmer on the Back Burner

Please note: This item is from our archives and was published in 2008. It is provided for historical reference. The content may be out of date and links may no longer function.

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According to the AICPA’s 2008 PCPS Succession Survey, almost 70% of multi-owner firms and more than 50% of sole proprietors (sole owner firms and sole practitioners) believe succession planning will be a significant issue for them in the near future.

But only 35% of multi-owner firms and 9% of sole proprietors actually have a written succession plan in place.

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For more of the survey’s findings and to access the Succession Planning Resource Center, visit http://pcps.aicpa.org/Resources/Succession+Planning.

Source: The AICPA, www.aicpa.org.