(Initial or Renewal Course based on the 2015 AHA Guidelines)
Basic Life Support (BLS) is the foundation for saving lives after cardiac arrest. This course teaches both single-rescuer and team basic life support skills for application in both in-facility and prehospital settings. This course is designed for healthcare professionals and other personnel who need to know how to perform CPR and other basic cardiovascular life support skills.
In addition, BLS training can be appropriate for first responders, such as police officers and firefighters, as well as for laypeople whose work brings them into contact with members of the public, such as school, fitness center, or hotel and restaurant employees.
Students must pass a written exam and skills test in order to qualify for a BLS Course Completion Card.
Upon successful completion of this course, students will receive a completion cad valid for 2 years.
Conveniently scheduled on Saturday, please choose the session that works best for you.
For many family business owners, retirement seems like a tiny speck on the distant horizon. But alas, time marches on steadily and planning for the transition of leadership of the business you worked so hard to build and maintain should be on your mind regardless of how far from retirement age you are.
The Entrepreneur magazine says, “More than 50 percent of all small-business owners are 50 or older, according to the U.S. Small Business Administration. That means many of America’s 28 million small-business owners are coming to that point in their lives when they need to think about a transition for their businesses.” Family businesses account for a staggering 50 percent of the gross domestic product of the U.S., and it is not just in small storefronts or website businesses: 35 percent of Fortune 500 companies are private or public companies that are controlled by families. That means that not only for the sake of your family, but the sake of the American economy Succession Planning is critical. Here are some tips on planning your family transition for your company.
A Legal Succession Plan – Fidelity suggests that: “At a minimum, a business succession plan should address the systematic transfer of the management and ownership of a business.” Management succession planning may include:
- Development, training, and support of successors.
- Delegation of responsibility and authority to successors.
- Outside directors/advisors to bring objectivity to the process (when necessary).
- Maximizing retention of key employees through equitable compensation planning for management, family/non-family employees, and active/inactive shareholders.
Set a Timetable –
Determine how and when the control of the company will be shifted to your successor. Ease your successor into the position and avoid the impulse to routinely overrule his or her decisions during this transition phase. Ease your successor in through training both formal and informal in nature.
Plan for Taxes and Legal Changes – Talk to a specialized lawyer for business succession planning that will help with taxes and probate issues. It’s important to understand that the value of your business may continue to grow between the time you plan your estate and when you pass away, and that the taxable estate will include the value as of your date of death.
For more information on Business Succession Planning:
How to Create a Business Succession Plan
Forbes: Creating a Business Succession Plan
Entrepreneur Magazine: Now is the Time to Think about Succession Plan
According to a recent study by Thompson Law, a vast majority of small business owners and larger corporate owners intend to pass the family business on to their children or other family members, but less than 30% have a succession plan. The Family Planning Institute further supports this report by citing that while 88% of business owners plan to have a family member running the business five years past their exit, that a mere 30% survive into the second generation, 12% into the third generation and a scant 3% into the fourth generation. These numbers show that there is a major disconnect between the optimistic belief of family owners and the stark reality of how many businesses really stay “in the family.” Let’s look at the problematic issues in succession planning as well as some tips to make a transition as smooth as possible.
Issues in Family Succession – Family businesses have several issues that work against the successful continuation of the business. These include:
- Alignment of family interests – An extremely common problem that rears its ugly head during turnover from one generation to another is the alignment in interests of one generation to another. One family member is looking ahead to retirement and maintaining his retirement income through the company while the person taking charge has a completely different set of ideas and goals that may not match the former owner. This can make for a sticky turnover.
- Family Disputes – Business goals and interests can be one problem but complicated family dynamics can be an even bigger problem. These issues can become even more complicated if there is a divorce or death that causes emotions to become a factor.
- Financial Issues – Buyouts can become financially problematic when looking at the balance sheet only. According to Forbes Online the true value of a business should probably be based on an earnings capitalization model, a concept unfamiliar to many smaller family companies.
Tips to Make Transition and Family Succession Easier
- Establish a Timeline – It is hard to get a successor without a target transition date in mind. Plan well in advance when at all possible to prepare the team to the event. Setting clear goals and milestones, and working backwards from there allows you to break things up into manageable steps, and enables you to have a more effective plan.
- Create a Succession Plan – This should include deciding on a successor, deciding on active and non-active roles for family members, and identifying additional family support where needed. This should be done as openly as possible and with the assistance of a specialized attorney in Business and Family Succession Law.
- Address Financial Issues – Examine tax issues, transfer of ownership, written agreements and a summary of the value of the company.
- Create a Detailed Transition Plan – Consider things like training your successor, introducing the team, and a smooth exit strategy for the “old” team.