Please click the "Yes" or "No" box for each of the 10 questions and press "submit" button when you are
The compounded growth rate
of our profits over the last 5 years is 10% or more per year.
Our market share, on
average, has grown over the past 5 years.
We have a board of directors
or an advisory board (composed of at least 75% non-stockholders or
partners) that meets at least once a year.
We have stockholders or
partners meetings at least once a year. (For family firms the meetings
should include non-working stockholders, stockholder's spouses, and other
financially interested parties).
We have a
successors identified in writing for all of the key people in
We have a written plan as to
the requirements needed for a family member to work in the business.
Included in the plan is a provision that the in-coming family member must
work outside of the business for at least 5 years.
We have a Buy/Sell
We have an agreement that
allows shareholders or partners to exit the business while they are still
a) If the business is not going to be
passed down to the next generation, we have an exit strategy.
the business is going to be passed down to the next generation, the
senior generation has announced to the family a date as to when they will
exit from the business and hand control to the next generation.
We have an estate plan for
each owner that would provide for at least one of the following three provisions
upon death (if any of the owners are married this assumes the spouse dies
at the same time):
a) There would be no estate tax owed.
b) There is sufficient life insurance to cover the estate tax liability.
There is money put away to cover the estate taxes.
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