The Small Business Succession Planning Act aims to help small businesses prepare for future ownership transitions. The main goal is to encourage these businesses to create succession plans, ensuring they can continue operating smoothly when the current owner retires or passes away. Key provisions of the Act include the establishment of a program by the Small Business Administration (SBA) to assist small businesses in developing and implementing their succession plans. The SBA will create a toolkit that provides guidance on how to create these plans, which will be accessible on their website.