The common idea of an exit or transition strategy is to sell your business to another company. However, there are many other options including gifting your business. While this is not an option for everyone, some business owners have the advantage and flexibility that allows them to have a comfortable life without depending on the cash from their business. Instead of selling their business, they can gift their business to a cause of their choice. Besides the clear benefits of self-fulfillment and the impact on people’s lives, gifting a business provides great tax benefits to the donors. Warren Buffet already pledged 85% of his fortune to Gates Foundation. Are you ready to do the same?
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