Ashland University to Hold its First Business Succession Workshop
The newly announced ACCENT on Business Succession initiative will take its first official step on the Ashland University campus Nov. 3 when it holds its one-day intensive workshop for business owners and their spouses.
The one-day workshop, which will be held from 8 a.m. to 4 p.m., is sponsored by Ashland University’s Richard E. and Sandra J. Dauch College of Business and Economics, the Burton D. Morgan Center for Entrepreneurial Studies, the Sandberg Leadership Center and is being coordinated by the office of Legacy Estate Programs.
“Eighty percent of businesses do not have a viable succession plan, yet over two-thirds of them expect to leave their business within the next 10 years,” said Paul Ditlevson, coordinator of the initiative and director of Ashland University’s Legacy Estate Programs. “We have uncovered the essential equation to share how this transition can be both immensely profitable and rewarding. It is also extremely important that partners and spouses be a part of the process from the planning inception, if at all possible.”
“The primary focus of the interactive program is to provide an educational blueprint for business owners to gain the confidence to move forward to affect the outcome they most desire for their families and businesses,” said Read Wakefield, director of the Morgan Center for Entrepreneurial Studies. “This program will serve as a launching pad to ultimately help bridge the gaps between owners’ personal goals, business structuring, financial constraints, market place realities and sustainability issues that each successful business faces at a time of succession.”
Wakefield said the program also will assist in helping owners understand how to deal with the emotional, personal, financial, taxing and philanthropic issues that most often confound both the owner and the business successor.
“Whether the goal is to preserve the business within the family for generations, to achieve the maximum return on the original investment or to ensure the best possible opportunity for the employees and community to enjoy the benefits of a successful company, these issues must be addressed most effectively in a thoughtful, timely and comprehensive manner,” he said.
Ditlevson went on to state, “ A group of nationally known business and estate planning professionals, family wealth counselors and faculty and staff of Ashland University and its centers have been conducting pilot studies with Ashland University Board of Trustee members and local business owners for over two years to bring this program to its inception.”
Further questions with regard to content of the workshop and fees may be answered by calling 419.289.5090.
In addition to the one-day seminar, complimentary breakfast briefings will be held on Oct. 6 and Oct. 21 from 7 to 8 a.m. in the Ridenour Executive Education Center of the Dauch College for owners to learn if their business might profit from the November workshop. An RSVP of 48 hours in advance is required for these briefings. Reservations to attend a breakfast can be made by calling 419.289.5105 or emailing firstname.lastname@example.org.
Ashland University (www.ashland.edu) is a mid-sized, private university conveniently located a short distance from Akron, Cleveland and Columbus, Ohio. Ashland University values the individual student and offers a unique educational experience that combines the challenge of strong, applied academic programs with a faculty and staff who build nurturing relationships with their students.