5 steps to manage a smooth business transition following the departure of your business partner

When partners first get into a business together, they aim for longevity. They usually have similar goals and a vision for their product. However, over time, those interests may change. One business partner could start a family and decide to stay home to care for them. Another could suffer an injury or contract a disease that forces him to re-evaluate his business stance. When one of these circumstances or any other one forces one partner to leave an enterprise, it is usually up to the remaining partner or partners to determine the next step for the company. If your partner has left the firm, here are five actions you can take to ensure the smooth transition of your business.