Business Succession

Business Succession

Business succession planning is a process designed to assist the business owner to transition out of business and transfer ownership of business at the time of retirement while maximizing the business owner’s personal financial security.

Who's this for?

Benefits

Who's this for?

Key Person
Shareholder
Buy Sell Arrangement
Business Loan/Overhead Risk

Benefits

Value of your business can represent a substantial source of income in retirement, therefore proper succession planning can ensure that the risks to your lifestyle in retirement is minimized.
If your hope is to have your business continued by one or more family members, then you will likely need to coordinate your business plan with your estate plan and explore any tax deferral opportunities.
Any unforeseen events could lead to problems in your business without proper planning. Advanced planning can ensure that you, your business and family are protected.

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Latest News

Expanded eligibility for CEBA $40,000 interest-free loan

The Prime Minister outlined the expanded eligibility for the Canada Emergency Business Account and highlighted companies such as hair salon owners, independent gym owners with contracted trainers and local physio businesses will now be eligible.

“If you are the sole owner-operator of a business, if your business relies on contractors, or if you have a family-owned business and you pay employees through dividends, you will now qualify.” – PM Justin Trudeau

Apply starting Friday for Canada Emergency Student Benefit! Help on the way for seniors.

The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19.

Extended! Canada Emergency Wage Subsidy extended beyond June

On May 8th, Prime Minister Justin Trudeau announced that they will extend the Canada Emergency Wage Subsidy (CEWS) beyond June.

Business Succession