6 Tips for Succession Planning
For business owners, succession planning should be a vital part of their strategy – even if the eventual exit from the enterprise is years or decades away.
However, a recent poll found that only 42 per cent
of small business owners are uncertain about their retirement and almost half – 48 per cent
don’t seek financial advice.
Use these six tips to evaluate if you’re paving a road for success or if you need to clear some bumps along the way.
Often given short shrift, business succession planning is a vital part of being a business owner – even if the eventual exit from the enterprise is years or decades away. These six tips should help pave the way for a successful sale or handover.
This past week I ran into a couple of articles that really define the issues on the Canadian political landscape and their impact on small and mid sized enterprise in this country. The article linked here from the Fraser Institute provides some data on comparing government and private sector compensation. Link – https://shar.es/a1RpHx For as long as I have been working the most common understanding at the grassroots level for most Canadians was work for […]
Chambers Plan – Group Benefits & Insurance For Small Business Brett Tanner is interviewed on The Humble & Fred Radio Show October 23, 2018 Discussion On Insurance For Small Business – How insurance pooling works for you and your company. Chamber Of Commerce Group Benefits – Insurance For Small Business – Benefit Plans For Small Business Please click below to listen to the Brett Tanner interview with Humble & Fred.
The National Pharmacare movement like many things is built from several sources and not a single base. The issues at hand are that first of all we have a relatively inefficient buying system for drugs. We have patent periods before lower cost equivalents, generics, if you will, can be produced. There’s also the issue of affordability for lower income or unemployed individuals or families. One should also consider the high inflation level that is impacting […]
Are You Ready to Pass the Torch?
Selling a business or passing it on to the next generation can be the most important financial event in an entrepreneur’s lifetime. But Canadian small business owners are not succeeding when it comes to succession planning.
A new poll from IPC Private Wealth found 42 percent
of small business owners are uncertain about their retirement and almost half – 48 percent
don’t seek financial advice.
Take control of your retirement income. Many Canadians are either misinformed or working on the wrong set of assumptions when it comes to planning for their retirement years and retirement income. Getting educated on how much you will need, and where it’s going to come from is a critical part of planning for your future and adjusting to new economic realities. If you are uncertain where to start, I have the perfect tool for you. […]
When it comes to financial planning, retirement is the first thing we all think of. It’s our big reward for years of working, saving and investing for the future. But retirement planning is only one part of any financial plan. Estate planning is just as important as the retirement plan because it impacts your loved ones. It’s a way of planning your last wishes and leaving a lasting legacy. No one wants to think about […]
How to get it wrong, good article showing the perspective of those not having to pay for national pharmacare. This is not free.The end result of a single payer system is a cost to the system in excess of $25-30 billion. This will fall onto the backs of employers and employees through additional taxation. There`s evidence a single buyer system and increased competition in the pharmacy world and patent legislation could save the system in […]
RRSP? TFSA? Which is the answer for you? When it comes to investment planning, there’s always a lot of questions. Long-term retirement planning or short-term financial goals? RRSP or TFSA? Tax-differed or tax-free? First, what exactly are TFSAs and RRSPs? A Tax-Free Savings Account (TFSA) generates growth that is tax-free. On the other hand, a Registered Retirement Savings Plan (RRSP) compounds your savings and provides tax-deferred growth that is taxable but offers a variety of […]