Use an ESOP to Transfer Ownership of Your Business

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At a glance The main takeaway: With an impending retirement wave on the horizon, more businesses will be looking for viable strategies to ensure a smooth financial transition between successors. Impact on your business: Employee stock ownership plans (ESOPs) are efficient financial vehicles that can help you transfer assets efficiently and cost-effectively, while also boosting…

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8(A) Contractors Must Maintain Eligibility for the Life of the Program—or Else!

The Small Business Administration’s (SBA) 8(A) program allows the government to award contracts to eligible 8(A) firms on a set-aside basis. Firms owned by socially and economically disadvantaged individuals that meet certain other requirements can qualify to participate in the program. Once admitted, the firms have to meet certain ongoing eligibility requirements, which are set forth…

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