NewswireToday - /newswire/ -
Arlington, TX, United States, 2013/04/22 - TMAC at The University of Texas at Arlington is hosting a Family Business Seminar. All family-owned or closely-held businesses are invited to attend - TMAC.org.
The seminar will take place from 9 am. to 3 pm. on Tuesday, May 14 at the Rangers Ballpark, 1000 Ballpark Way, in Arlington.
Consider these staggering statistics about family-owned or closely-held businesses:
1. During the next five to six years, 65 percent of family-owned business owners will be retiring through selling or passing their business to family or outside parties.
2. Only 30 percent or less will survive to the second generation.
3. Less than 5 percent will survive to the third generation.
Unfortunately, many family-owned and closely-held business owners are unaware that there is so much to do in the few years leading up to retirement or succession, and in some cases, selling. By being prepared for the transition of their business, owners can rest assured that their finances are in order, all the legal documents have been prepared and that the strategic and exit strategies are being properly executed.
TMAC works with customers on management and financial aspects of the business including business valuations, operational and supply chain optimization, and product innovation to drive business value. Many owners begin preparing for the transition with TMAC’s Family Business Assessment. This assessment provides both TMAC and the business owner alike, a snapshot of the company. After the results have been reviewed, TMAC works with the business in the areas that need help. This allows the owner to continue to focus on daily operations while only having to work with one organization, TMAC, to plan the transition. This service provides valuable assistance to family-owned and closely-held businesses as they transition from one generation to the next or pass to outside interests.
TMAC (TMAC.org) is a program of The University of Texas at Arlington’s Office of Research. Its mission is to improve the global competitiveness of the Texas economy. TMAC accelerates profitable growth through better processes, products and people.