95% of Colorado owners said that having a transition strategy is important for both their future and the future of their business
WESTLAKE, OH, September 14, 2022 /24-7PressRelease/ — Exit Planning Institute (EPI) announced today the publication of its Colorado State of Owner Readiness Report™. EPI partnered with the Colorado Employee Ownership Office at the Office of Economic Development and International Trade (OEDIT) to conduct the research for the 2022 Colorado State of Owner Readiness Report™.
Through the 2022 Colorado State of Owner Readiness™ Report, EPI provides Colorado an inside look at how prepared business owners were statewide for an eventual sale. This includes notable risk factors reducing the potential salability of these companies as well as insights that current owners can use to improve their individual exit success probability.
The Colorado State of Owner Readiness survey, which was completed by over 400 business owners in Colorado, found that while 95% of Colorado owners felt that having a transition strategy is important for both their future and the future of their business, and 68% of the owners stated they have spent minimal time and attention on their exit.
“The Colorado State of Owner Readiness Report™ highlights the continued need for education regarding a business owner’s exit options,” said EPI President Scott Snider. “The data collected in this year’s State of Owner Readiness Report provides a look into the minds of business owners and shows the need to work with professionals to help address their succession, transition, and exit planning needs.”
Additional information about the survey results can be found here.
About Exit Planning Institute
Exit Planning institute (EPI) was formed in 2005 to serve the educational and resource needs of professional business advisors. Its Certified Exit Planning Advisor (CEPA) credential program is the most widely endorsed professional exit planning program in the world, providing advisors with the content, tools and training needed to engage business owners and become their most valued advisors. For more information, visit exit-planning-institute.org or follow us on LinkedIn.
About Colorado Office of Economic Development and International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Cannabis Business Office; Colorado Office of Film, TV & Media; the Minority Business Office; Employee Ownership Office; and Rural Opportunity Office. Learn more at oedit.colorado.gov.
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