For many business owners, succession planning is top of mind these days — with good reason. Last year, there were 30.2 million small businesses in the U.S., according to the Small Business Administration, which represented 99.9 percent of all U.S. businesses. Those businesses are operating amidst an unprecedented generational transfer; indeed, there is a tidal wave of business exits on the horizon. Early baby boomers have reached retirement age – they’ve already started transitioning their businesses – and the tail end of this generation will get there in a few short years. Proper business succession planning requires at least an 18-month time horizon; if they haven’t yet begun planning for business succession, they’ll need to catch up fast.