The success of these transitions will greatly impact employees, communities and the entrepreneurs who built the business.
Glen Ellyn, Illinois (PRWEB) April 05, 2013
The Illinois Manufacturing Excellence Center (IMEC) is partnering with College of DuPage Business Solutions group to introduce area companies to the transition and business planning resources for family- and closely-held businesses. The Transition Planning seminar on April 17 at College of DuPage in Glen Ellyn will focus on how to successfully plan for the future by addressing key issues faced by company leadership.
Last fall, IMEC announced 17 manufacturing specialists completed the comprehensive Galliard Group Family Business Advisor Level One training program, which equips the IMEC team members with comprehensive tools to assist these businesses. “Illinois manufacturers must prepare for the profound implications related to the transition of ownership caused by the aging baby boomer generation. More than 70 percent of manufacturers may have a change in leadership in the next five years,” said David Boulay, President of IMEC. “The success of these transitions will greatly impact employees, communities and the entrepreneurs who built the businesses.”
The philosophy behind the Galliard Group Family Business Advisor program is to allow transition of the business with dignity intact. The advisors work to help the business create an exit strategy, succession plan and build an advisory board not only as a means to transition the business in the future, but also to help create a clear roadmap of how the business will operate to reach its goals.
The April 17 seminar at College of DuPage will provide the opportunity for companies to learn more about the Family Business Advisor Network and begin to think about identifying a unique strategy and develop transition plans to achieve the desired outcome. Registration is available through the IMEC website at http://www.imec.org/events.cfm or by calling Amy Fitzgerald, IMEC Marketing Manager at 309-677-2977. The program is $20 per person.
IMEC was established in 1996 with the goal of improving the productivity and competitiveness of Illinois’ small and mid-sized manufacturing firms. A non-profit economic development organization, IMEC is funded in part by the National Institute of Standards and Technology’s Manufacturing Extension Partnership, the Illinois Department of Commerce and Economic Opportunity, and through fees paid by Illinois manufacturers for IMEC’s services. IMEC has 11 offices statewide and 40 full-time manufacturing improvement specialists. For more information, visit http://www.imec.org.
About College of DuPage
With more than 26,000 students, COD is the largest community college in Illinois, and third largest among the state's public colleges and universities. For more information, visit http://www.cod.edu.