Savvy Business Owners Plan for Success…ion–What is it?
There are two aspects to succession planning that are important to business owners. The first type of succession planning is the inevitable internal change of key employees as they progress along career paths. Evaluating and developing these future leaders is can play a crucial role in transitioning the business to next owner(s).
The second type of succession planning involves the transition of business ownership, which in this course will be called business succession planning. Whether transitioning ownership to employees, family members or potentially to a competitor, planning is extremely important. In addition, planning is also important if permanently closing the business is the transition strategy.
In a recent report published by MNP
- more than half of Canadian family owned business do not have a succession plan put in place,
Begin planning your succession today by finding a team of service professionals or have us do it for you.