The 9 Key Players of Succession Planning
…play a critical role in helping to ensure a smooth transition. Below are nine key players to consider in your succession planning. 1. Family If you’re handing the company off…
Search Results for “family succession”
How to Exit Your Business: Your Legal Requirements
…their business’s succession: only 10% have a formal, written succession plan, 38% have an informal unwritten plan, and the remaining 52% do not have any succession plan at all. Having…
Avoiding the Pitfalls of a Family Business
…issues that can cause problems for family businesses. Read on, as we list some of the common pitfalls family businesses need to avoid. Structural Issues A family owned business can…
Using a Family Trust for Tax Planning
…maximizes after-tax profits. In this article, we explore the advantages of using a family trust for small business tax planning. Why a Family Trust? Most successful small businesses are operated…
How to Exit Your Business: The Financial Implications
…give parts of your business to your heirs gradually over several years Due to the complexities of succession, we recommend that you draft a formal succession plan for a smooth…
How to Exit Your Small Business
…your business plan. Succession Plan When it comes to succession planning, you will need to rely on several stakeholders; both inside and outside the business. Each of these individuals will…
Meet The Book Man: A Family Tradition Where Passion for Books Builds Community
Amber Price owns The Book Man, a bookstore with two locations in Chilliwack and Abbotsford. SBBC connected with Amber to learn more about her family bookstore and how it’s been…
Seeking Equity Investment? Know the Rules
…include members of management and their family members. Investors under this exemption can also include: A close friend or family member: someone who has known your senior management team (director,…
An Introduction to Co-ops
…BC today. Worker Co-op Succession There are currently 124,000 family businesses, each with sales of $1 million or more, in Canada. Estimates suggest only one-third of these businesses will make…
Meet Donna Franz, Design 4 Accessibility
…issue that’s been top of mind for Donna since an early age. “We have a family member with visual, learning, and sensory disabilities. When our family would go to family…