Topic Archive: Corporate Structure/M&A
Swets, who has more than 15 years of experience in the industry, shared her expert opinion and advice on how to handle this kind of transaction, what to expect (both the good and the bad), and how to deal with the parties involved. She noted that selling a business can be an overwhelming process, but advised listeners to rely on the people that they trust.
“The most important thing is surrounding yourself with the right people, the trusted advisors who have been there with you throughout the time you’ve built your business and who know you, know your motivations, and can really support you through it,” Swets said.
During the rest of their conversation, the pair unpacked the different challenges that come with selling your business and retirement planning. To hear more insights into this topic, you can hear the rest of the podcast here on Entrepreneur Podcast Network.
Our company has been growing over the last couple of years, which is a good thing. However, after seeing your last two Questions of the Week (here and here), I am concerned about the need to have our 401(k) plan audited. We are committed to keeping the plan in compliance, but I cringe at the thought of searching for an auditor and dealing with the related costs.
I recently sold my business, and all of my employees went to work for the buyer. My goal is to continue working for a period of time, but I do not expect to hire any more employees.
The reconciliation of the tax reform bills working their way through Congress is prompting retirement industry experts to speak up. Many are expressing concern that the unintended consequence of the some of the proposed changes would create a disincentive for some business to offer or maintain 401(k) plans for their employees.
Our company sponsors two separate 401(k) plans, each of which covers a different group of our employees. Due to some internal changes, we now want to merge those plans so that we only have a single plan, covering all of our employees.