Ep. 369 | Exit Strategies & Wealth Planning for Small Business Owners

In this special release episode of Small Biz Florida, host Tom Kindred reports from the 46th Annual America's SBDC Future of Work Training Event in Orlando, Florida. This episode features a timely and insightful discussion with Jim Colbourne, Wealth Manager, and Bryce Stacy, Service Advisor,  both from Merit Financial Advisors.

The conversation centers around the importance of wealth management for small business owners, emphasizing the need to separate personal and business finances to ensure financial security and enable successful business exits. Jim and Bryce shed light on common challenges entrepreneurs face, including the co-mingling of assets, lack of succession planning, and the emotional hurdles of retirement.

They also address the looming “silver tsunami,” the surge of business owners over age 65, and the critical need for early exit planning. Additionally, Bryce shares insights from their presentation on “Behavioral DNA,” which helps businesses improve team communication and internal dynamics.

Whether you're considering retirement or just getting started, this episode provides actionable financial guidance tailored specifically for small business owners.

This podcast episode was recorded live at the 46th Annual America’s SBDC Training Event hosted at the Hilton Orlando. This podcast is made possible by the Florida SBDC Network and sponsored by Florida First Capital.

Connect with Our Guest:
Merit Financial Advisors