Indianapolis – Governor Mike Braun is rolling out a practical resource for Indiana’s small‑business community. The Keep Indiana initiative, launched in May, will debut a free, one‑hour virtual webinar on Nov. 2. The session is being co‑hosted by the Indiana Office of Entrepreneurship and Innovation and the Indiana Chamber of Commerce.
Why succession planning matters for Hoosier businesses
More than half of Indiana’s business owners are age 55 or older, a demographic that generates over $200 billion in annual revenue, according to a report from the Indiana University Business Research Center commissioned by the state’s Office of Entrepreneurship and Innovation. Those owners support more than 900,000 jobs across the state, and many operate in rural counties where the pool of potential successors is limited.
When owners reach retirement age, the lack of a clear transition plan can jeopardize jobs, local tax bases, and the continuity of family‑run enterprises. Braun emphasized that helping owners map out their next steps is essential to keeping businesses, jobs, and economic activity firmly rooted in Indiana.
Webinar content and succession options
The upcoming webinar will walk participants through three proven succession strategies:
- Family office – structuring family‑owned assets to provide ongoing management and financial stability.
- Employee ownership – converting a company to an employee‑stock ownership plan (ESOP) or similar model, giving workers a stake in the business’s future.
- Entrepreneurship through acquisition – preparing a business for sale to a qualified buyer or a group of entrepreneurs who can continue operations.
Each approach is presented with practical steps, legal considerations, and resources available through state agencies and private partners.
How to join
The webinar is free and open to all Indiana small‑business owners. Registration is available online via the Keep Indiana website. Participants will receive a downloadable toolkit that includes checklists, contact lists for legal and financial advisors, and links to state grant programs that support business transitions.
State support and broader impact
Governor Braun’s office notes that the Keep Indiana series aligns with broader state efforts to sustain the manufacturing base, agricultural enterprises, and service‑sector firms that form the backbone of the Hoosier economy. By equipping owners with succession knowledge, the administration hopes to reduce the risk of business closures that can leave rural communities without essential services or employment opportunities.
“When we help business owners plan for the future, we protect jobs, families, and the economic vitality of every corner of Indiana,” Braun said. “This webinar is a concrete step toward ensuring that the next generation can build on the legacy of today’s entrepreneurs.”
Looking ahead
Keep Indiana plans to host additional webinars throughout the year, each focusing on a different aspect of business growth, financing, and workforce development. The series reflects a broader strategy by the Trump administration to empower local economies through targeted, low‑cost educational programs.
Business owners interested in learning more about succession planning, or who wish to suggest future webinar topics, are encouraged to contact the Indiana Office of Entrepreneurship and Innovation.
Original reporting: WOWO News/Talk (Fort Wayne) — read the source article.
