MN State of Owner Readiness Survey Results with Brent Engelbrekt!

Our show today featured some of the most telling results of the recent State of Owner Readiness Survey conducted by the Exit Planning Institute and spearheaded by Brent Engelbrekt, Senior M&A Advisor at the national award winning firm, True North M&A. As a former business owner, Brent has been through many exit situations himself, both as an owner and an advisor to clients. His expertise is as much experience based as it is knowledge based, making him the perfect candidate to lead this project. 

Under Brent's leadership and EPI's direction, business owners in the state of MN were asked a series of questions about their exit planning preparedness and intentions. The results are encouraging, yet we're clear there's more work to do.

Here are a few of those statistics: 

66% of owners polled said they plan to transition from their businesses in 5 years or less. 

60% said they are giving 'high attention' to exit planning

50% said they have a team of advisors

65% plan to invest in another business or become a Board member or consultant

25% plan to buy another company to run

Overall, owner's are doing a better job of maximizing their life's work, yet many still haven't started the process. To download your copy of the survey results, check out this link  https://exit-planning-institute.org/state-of-owner-readiness

Learn more about this important piece of research and what we can all do to utilize its findings.

Listen to the episode here

Connect with Brent Engelbrekt here and Julie Keyes here

Thank you to our show sponsors! Dayta, JAK, Sunbelt Business Advisors and Trust Point

The EPI Twin Cities Chapter 2024 Owners Forum is TODAY, October 3rd! There is still time to register and attend! Click here for the details.