Stony Brook University’s College of Business has started a research initiative aimed at examining how business owners approach succession, transition, or sale of their companies. The project, titled “The Owner’s Dilemma,” is conducted in collaboration with Wilmington Trust, M&T Bank, and the Business Owners Advisory Council. Its primary focus is on the decisions faced by entrepreneurs on Long Island.
Professor Richard Chan leads the effort, which includes surveying local business owners and analyzing data specific to Long Island. Students will also participate as research assistants, gaining practical experience with the financial and operational aspects involved in business transitions.
“Every great business story deserves a well-planned final chapter,” said Chan. “Behind every balance sheet is a founder’s life work. This research moves beyond the numbers to help owners transition their legacy — whether to family, employees, or a new buyer — with confidence, dignity, and a clear path forward.”
The findings from this study are expected to offer valuable insights for both business practices and public policy while also preparing students for leadership roles during critical moments in company ownership changes.
Local entrepreneurs are invited to contribute by completing a confidential 10-minute survey that aims to collect firsthand experiences about business transitions on Long Island. The survey can be accessed at https://stonybrookuniversity.co1.qualtrics.com/jfe/form/SV_9ZvVgumuStmxKey.
