Succession planning is critical to all businesses to ensure smooth and continuous operations after important people move on to new opportunities, retire or pass away.

A succession plan or continuity plan, in the case of a veteran-owned business that carries a special certification, license, or designation, such as SDVOSB (Service-Disabled Veteran-Owned Small Business) or VOSB (Veteran-Owned Small Business), is particularly critical because there are specific guidelines for continued business operations.