The value of your business only becomes relevant when you either wish to sell it or when you pass away. Whether you live in the US with its estate tax or in Canada with its deemed capital gains tax, your heirs will likely pay some taxes upon your passing.
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Do you believe that just because someone was born into the family, they should be entitled to a job within the business? and if so, how much does that family member get paid?
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A question faced by many business owners, once the owner has decided to begin succession and possibly sell all or a part of a business, is how much to sell of the business? This is not a question to be taken lightly and requires considered thought and input. A minority interest has not only legal […]
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A new year, a new start Here is a new take on an old subject. Have you made a New Year’s resolution? Why do we have to have a new year occur to make such resolutions? New beginnings? A fresh start? History shows that for farmers, the new year brings a new planting season and […]
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Succession of your business and the family enterprise by its very nature requires you, the owner, entrepreneur, founder, patriarch/matriarch to LET GO! Can you do this? This takes a whole lot of trust, and sometimes a leap of faith; because your successors may and probably will not do things exactly the same way that you […]
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