Business Succession Planning

Is your you plan, in writing or just in your head?

If you are like 85% of the business owners in Canada you do not have a written succession plan. You are too busy running your business to worry about planning the succession of your business. But one day the ownership of your business will change and being prepared for that day is important. It could be tomorrow.

Transferring the ownership to family members, an internal management team or selling to a new buyer all requires planning.We help business owners prepare and plan for the eventual succession and change of ownership of their business.

Build it while you can

A track record of growth makes your business more appealing to a prospective buyer. Polishing the business in preparation of going to market will make sure you get the best value for your business. A fresh set of eyes to audit your policies, procedures and uncover hidden liabilites can go a long way to improving your bottom line.

Who will buy your business? There are lots of buyers.

We have a seasoned network of accountants, lawyers and business brokers who are experts in their field who can work with your trusted advisors and together  help you sell and transition your business to new buyers, family members or internal management.

It can take  2-3 years to prepare and build the value in a business. The plan is to minimize tax, maximize shareholder value and find a suitable buyer. Business owners should consider a 5 year time frame when planning to exit their business.

Retirement and Estate Planning

We help the business owner plan for their retirement. We show them how to move money out of the operating company tax-efficiently into RRSPs, Individual Pension Plans (IPPs) or other tax-sheltered and tax-advantaged investments.

Business Successions Strategies

One day your business will be sold. 

It can take years to sell a business. Even if you have no immediate plans to sell your business being prepared is important. 

It can take two years to correct shareholder issues so that the $800,000 small business capital gain deduction is fully utilized and another year or more to find a suitable buyer.

The accountants review and “normalize” the financial statements so that they reflect the true value of the business.

The corporate lawyer will review the shareholder agreements and make any necessary corrections and make sure the “buy-sell” is properly funded.

The mergers and acquisitions people, (business brokers) will be beating the bushes to find a synergistic buyer who will pay a multiple of your company’s valuation.