In partnership with the Women’s Business Enterprise Council (WBEC), and supported by the County of Maui and the SBA Community Navigator Pilot Program, Maui Economic Development Board (MEDB) presented a seminar in the Hawaii Women in Business Seminar Series, ‘Planning For Your Business Succession’. With the workforce constantly changing, people come, go, and move into new roles within a company. Over 70 percent of small-business owners want to pass their business on, but only 15 percent actually do. Succession planning can help make the most of that change and prepare businesses for the next generation of leadership.

Leslie Wilkins, MEDB President and CEO, said, “Our Women in Business Seminar Series assists those preparing their business for success in the near and far future. In this seminar, participants were given concrete advice for a healthy future for their company.”

Guest speaker, Marianne Ellis, CEO and co-founder of CEO Success Community, has provided inspirational, real-world counsel to thousands of women- and minority-owned businesses. An inspiring business leader and coach, she is an advocate for clients seeking corporate contracts with Fortune 500 companies. Working with WBEC and other organizations, Ellis teaches the fastest path to increased revenue, growth, and a succession plan. She is also an Amazon best-selling author. Her book, ‘Women in Business Leading the Way’ features influential women CEOs sharing their insights on how to overcome challenges that female business leaders face in a variety of industries.

“In this interactive session, we discussed the basics of creating and maintaining a succession plan,” Ellis explained. “ Topics included: How to build a business succession plan; Choosing a power of attorney; Identifying a CEO successor; Easing tax exposure; Tax efficiency strategy; Trusted advisors; and Planning the next chapter. This event was ideal for business owners, managers and CEOs of organizations and non-profits.”

Participant Brandy Cajudoy, RME Cajudoy Construction LLC, reflected, “This seminar gave me a great start to put my business succession plan together. Ellis provided a roadmap to follow with her seminar workbook. Thank you, MEDB, for presenting such helpful information to our Maui community.”

David Campbell, Temptation Tours added, “I received so much more valuable information than I ever expected. Thanks, MEDB!”