Canadian business owners work hard and always keep the needs of their business top-of-mind.
But did you know that although 60% of Canadian business owners are over the age of 55, 91% don’t have a formal business succession plan in place?*
It’s important for business owners to start early and think about key issues like:
Asking yourself the following five questions can help you get started:
Working through these five key questions with your team of advisors will help ensure you cover off all the key details when it comes to building an effective business owner plan.
*Statistics source: Canadian Federation of Independent Business, November 2012 report. Updated report and statistics (2018) available here: https://www.cfib-fcei.ca/sites/default/files/2018-11/Getting-the-transition-right-succession-planning-report.pdf.