The Business Journal of Western Massachusetts
Succeeding at Succession
Mike Vann didn’t have the exact figures, but he said round numbers would certainly get his points across. And he was right.
There are roughly 7.5 million businesses in this country owned by an individual or individuals over the age of 55, said Vann, a principal, with his father, Kevin, of the Springfield-based business-consulting firm the Vann Group. And maybe 25% of them have “some semblance” of a succession plan in place.