Recession Shifting Contractor Retirement Plans, Savs FMI

摘要

Even as contractors age and seek to transfer firm ownership and management to a younger generation, more are finding that the recession and inadequate transition planning likely will keep them on the job longer. In a new study, industry management consultant FMI says that even though more than half of those construction firms surveyed will change ownership in the next decade, 52% of contractor-owners don't have management in line to replace them and 56% have not developed a formal ownership transition plan.