How Corporate Changes Affect Your Certifications and Planning Your Exit Strategy
Obtaining your WBE, DBE, MBE and other business certifications was a monumental task and the last thing you want to do is compromise them. However, any corporate changes can do just that. In addition, for most small business owners, selling any portion of a business or transferring it to family members is a once-in-a-lifetime deal and it must be done right. Changes in ownership are done for a variety of reasons. For example, an owner may want to infuse additional capital the company to assist with operating expenses or to add services or a product line to increase sales. Additionally, many owners want to start planning family business succession. Another scenario envisions a new owner looking to purchase an existing M/W/D/VBE or small business firm. It is important to understand that any ownership change will trigger a possible certification suspension or de-certification, even if there is a belief that such ownership changes are insignificant. These critical changes will be discussed in detail from a legal aspect, as well as planning for them from a financial perspective.
This important workshop is open to all FWC members and supporters and will be from 8:30 am to 11:30 am at McDonald Hopkins, 300 N. LaSalle St., LL Conference Room, Chicago. Register online at www.fwcchicago.com. You won't want to miss this!