including: succession planning, selling a business, retirement
With Family Day just around the corner, it’s time to talk “The Talk” with your kin. That’s right: we’re talking about family succession planning. Business owners want to see their businesses grow and succeed into the future. Yet, according to PwC Canada, only 18% of Canadian family businesses have a comprehensive succession plan.
At some point we'd all like to retire - and when we do, it's good to know that someone will be there to keep the flame burning brightly for your business. A few weeks ago, Warren Buffet made news by announcing that he had picked his successor, to lead the Berkshire Hathaway empire he worked to build over his lifetime.
In the recent report, A profile of self-employment in rural and small town Canada: Is there an impending retirement of self-employed business operators?, Statistics Canada describes self-employment in rural Canada and reveals which sectors are expected to experience high levels of retirement in the coming years. Here are a few of the highlights. Please see the report for details.
We've all heard the bad news: not every small business will succeed. If you listen to various news sources you've probably heard a number of discouraging statistics regarding the long term viability of small business operations. Ever wonder why?