EUGENE, Ore. -- When it comes to creating a succession plan for your business, the sooner the better, Joe Carmichael with Oregon Pacific Bank said.
KEZI 9 News had Carmichael and President and CEO Ron Green in the studio on KEZI 9 News at 4 p.m.
For a number of small business owners, retirement is centered on the sale of that business, Carmichael said. So just like with a 401K, it’s important to start planning early.
Along with your Certified Public Accountant, your attorney and your financial planner, your banker should be a great resource as you get that plan in place. There are a number of things you can work on with them because your banker is going to know you, your business and what those financial needs are. Having them involved in the process is really important, Carmichael said.
If you have a banking or finance question for Green, click here.