Succession Planning

Under­stand how to let your com­pa­ny con­tin­ue it’s growth into the future

Suc­ces­sion plan­ning is a very com­plex process and not one that should be con­sid­ered overnight. As a busi­ness own­er you have invest­ed many long hours into the suc­cess of your com­pa­ny and you like­ly want to see that suc­cess con­tin­ue, regard­less of who steps into your role. Have you con­sid­ered who that per­son might be? Per­haps it is a val­ued employ­ee or fam­i­ly mem­ber, or an inter­est­ed buy­er? What is the val­ue of your busi­ness and how do you deter­mine that?

A trust­ed busi­ness advi­sor and finan­cial plan­ner are essen­tial to a smooth tran­si­tion plan. The Busi­ness Help Cen­tre of Mid­dle­sex Coun­ty can meet with you indi­vid­u­al­ly to help you answer your suc­ces­sion plan­ning ques­tions and plan for the future. The Finan­cial Plan­ning Stan­dards Coun­cil sets stan­dards and qual­i­fi­ca­tions for finan­cial plan­ners in Cana­da. Their web­site will assist you in find­ing a cer­ti­fied finan­cial plan­ner in Mid­dle­sex County.

The Suc­ces­sion Plan­ning Guide is avail­able through the Cana­di­an Fed­er­a­tion for Inde­pen­dent Busi­ness­es. The Busi­ness Devel­op­ment Bank of Cana­da also has a very help­ful suc­ces­sion plan­ning pub­li­ca­tion BDC tran­si­tion guide. We encour­age you to become famil­iar with these use­ful guides as you begin to con­sid­er your suc­ces­sion plans.