Succession Planning for the Small Business Owner: Finding the Exit Ramp


The life cycle of the small business can be summed up in three segments: 1) starting the business 2) operating the business and 3) getting out of the business. This course focuses on getting out of the business. The most elusive element of owning a small business can be finding the proper exit strategy. This course is designed to provide the business-consulting practitioner with tools and concepts to advise the small business owner and assist them in developing the right exit strategy. The course covers exit strategies related to third-party sales and succession planning within a family.


* Understand the process of selling a business from finding a buyer to completing the sale * Understand how business brokers operate and the fees that they charge * Discuss the difference between selling the business and leaving the business: the transition period * Protect the seller’s interest in a seller-financed sale * Understand how estate planning and family succession of a business interact * Understand the use of discounts in transfers of ownership interests to family members * Discuss when to turn over operations while maintaining control of a family business: drawing distributions from the business for retirement and receiving a step-up in basis at death * Understand various structuring options for family business succession


* How to find unrelated buyers of a business * Maintaining control of the business succession process * Turning over the reins to family members: when to give up control * Finding the right team to sell a business * Options for selling a business to an unrelated party * Options for selling a business to family members * Options for selling a business to employees * Overcoming the emotional attachment to a business * Selling to family members for a life annuity * Using family partnerships and trusts to transfer a business

Who Should Attend

Practitioners with small business clients that will eventually sell that business to third parties or family members who need advice regarding exiting the business

Required Knowledge

A basic understanding of business entity types and taxation of sales of businesses

Advanced Prep


Event Speaker(s)

Michael Anthony Frost ( Jacksonville, AL ),

Additional Event Information

Check-in for all in-person events begins one hour prior to event start time. Also, be sure to allow enough time for traffic, parking, and check-in. If you should arrive late or depart early, you must adjust your CPE credit accordingly.

Also Available As

Monday, November 21, 2022 (1:00 pm–4:45 pm ET)
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Field of Study:Management Services
Level: Intermediate

Event Type:Seminar
NASBA Instructional Method:Group Live
Event Code:S0000922

Registration Fees

Early Bird Rate expires November 8, 2022

RegistrationEarly BirdRegular
NCACPA MemberN/A$170.00
Succession Planning CourseNCACPA Member$145.00
Succession Planning CourseNon-Member$195.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.