University of Minnesota Extension offers business succession strategy course starting June 2 – West Central Tribune

ST. PAUL – The University of Minnesota Extension starting June 2 is offering a five -week course that focuses on strategic business strategy, according to a news release from the University of Minnesota Extension.

It is estimated that approximately 50,000 businesses in Minnesota are owned by individuals 55 years of age and older. Experts recommend starting consecutive planning at least five years before handing over a business to new owners.

Not only is succession planning recommended as a way to prepare for retirement, but also as part of preparing for the “5 D’s” that may occur: death, divorce, disability, disaster and misunderstanding.

The online course is designed to offer a supportive, confidential learning space for businesses of all sizes and sizes. Business leaders can learn about options, gain strategy skills and learn from others to create a comprehensive succession plan.

The course was well received when it was offered earlier this year, with 90 per cent of participants indicating that they would recommend it to other business owners. Another session will begin on October 6th.

For more information see z.umn.edu/BSTclass or contact Michael Darger, [email protected] or 612-625-6246.