Burke, Megan M.Gossett, DonnaHaskin, Daniel2023-02-282023-02-282016This is the published version of an article that is available at https://www.tx.cpa/resources/today's-cpa/2016-archive#39;s-cpa. Recommended citation: Burke, M. M., Gossett, D., & Haskin, D. (2016). Transferring ownership of small, closely-held business. Today's CPA. This item has been deposited in accordance with publisher copyright and licensing terms and with the author’s permission.https://hdl.handle.net/11274/14544https://www.tx.cpa/resources/today's-cpa/2016-archive#39;s-cpaArticle originally published by Today's CPA. Published online 2016. https://www.tx.cpa/resources/today's-cpa/2016-archive#39;s-cpa.Permission to deposit the published version was given through direct contact with the publisher. For more information please see the faculty member's entry in Project INDEX -- EDH 7/17/23Family-owned businesses account for a significant portion of the U.S. economy. Unfortunately, only about 30 percent of these businesses will make it into the hands of the second generation (Stalk and Foley). As the Baby Boomer generation reaches retirement age, an increasing number of small businesses face succession challenges. While some family-owned businesses develop plans to transfer ownership and executive decision making to other family members, this is not a viable strategy for all small businesses. These firms will need to examine and implement strategies for transferring business ownership to external or internal buyers.en-USSuccession planningPrivate equityPrivate-to-private transactionsArticle