Did you know that between 60-70% of small business owners hope to pass their business on to a family member, but only about 15% actually have a viable plan in place that allows them to do so? Without a succession plan in place, you have no guarantee that your family business will stay in the family.
Refresh your understanding of the critical preventive measures that have been shown to save lives by subscribing to our blog for a free download of our guide: Ratermann's guide to SB-26 & our reccomendations to prevent gas mix-ups.
Designed as a drop-in replacement for bulkier RegO vent valves, the Herose Globe Valve maximizes ease of use and safety at a fraction of the cost – and without compromising on quality or safety. No one outside of Ratermann has this product, which nicely rounds out our bulk tank and trailer package line.
Last month, Compressed Gas Association Vice President of Operations and Administration Laura Brumsey joined Marie Ratermann on The Tipping Point podcast to discuss everything from changes in the industry to advice for emerging professionals. Below are some of the key takeaways from their engaging conversation.
Family-owned businesses are a cornerstone of the American economy, with nearly 90 percent of all U.S. businesses being family-owned or controlled. However, only about 30 percent of family-owned businesses successfully transition to the second generation, and even fewer make it to the third and fourth generations. Succession planning is critical for the longevity of any family-owned business, and it can be especially challenging for gas distributors.