Tall Timber Group

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As a business owner, you’ve worked hard to build your business. But what about the day when you might want to walk away from it all? Business transition planning is perhaps one of the most complex tasks a business owner will encounter. Many owners have a substantial portion of their family wealth invested in the business, a complexity that requires broader financial planning strategies to address retirement and estate planning needs.

If you lack a comprehensive plan to pass on your business, now is the time to give serious thought to a formal business transition plan. A well-crafted transition plan identifies a long-term strategy that can inform short-term decisions.

Click here https://bit.ly/3DnxlOj to continue reading this article by Jennefer Bartholomew, CEPA®, in this falls September/October 2022 Breaking Ground Magazine.

Nearly $1.1 billion in construction activity occurred during the fourth quarter of 2021. The higher-than-normal level of contracting was a result of the start of several larger projects and optimism about the return to normal from two pandemic years.

Also at that time, the Fed was still signaling its own optimism about the need for monetary tightening to rein in inflation. Interest rates are now three percentage points higher than in October 2021 and are likely to go another full percentage point higher before the Fed stops hiking in 2023. That has chilled activity, especially in housing and commercial real estate. And, while the demand side of the economy has mostly normalized, concerns about a recession in 2023 have grown and will likely reduce construction spending into the first quarter.

Tall Timber Group forecasts that the slowdown in the fourth quarter will result in contracting for the full year falling roughly $300 million short of the previous year.

Read more about the market in the Sept/Oct at https://bit.ly/3rudcAw

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