Business Succession Planning
Cathy Butler - Feb 25, 2024
Selling a business? Wondering what comes next? What might that transition look like for you?
Business Succession Planning
Are you preparing to sell your business? Or perhaps you are still running a business but looking ahead to see what the next phase might looks like?
Regardless of where you are in your entrepreneurial journey, we can provide our clients with expert guidance for when that inevitable day comes to transition out of your business.
This is where we come in!
The basis of any thoughtful transition is having a specialized plan that is centered around your personal goals/plans in retirement! From there, micro-adjustments can be made on the business side to ensure that you and your family are always taken care of.
Proper planning leading up to your exit will:
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Maximize your exit value
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Protect your key-employees’ interests
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Increase the chances of business prosperity post-transition
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Assist in choosing the right buyer
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Harness a prosperous transition to future generations without unnecessary debt financing
Like all clients, the basis of our advice is built on your Wealth Plan. By quantifying the goals for your wealth in retirement, and the lasting legacy your family plans to leave behind, a path to success is created.
The considerations that business owners are left with:
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What is the exit value the owner will receive?
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When will be the most opportune time to sell the business?
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What tax strategies will be used to transition wealth effectively into the family unit?
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Other business and financial longevity considerations
A specialized Business Succession Plan will answer all these questions.
A Specialized Business Succession Plan
We have worked with business owners for decades, giving us a deep understanding of how intricate a transition like this is for the owners. We leverage the M&A expertise of our partners at the BMO Business Advisory & Succession Planning group who have spent their careers working hands-on with businesses and their owners in your industry.
Topics that are covered in your specialized Business Succession Plan:
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Education on the sale or succession planning process
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Pre-sale strategies and structuring
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Valuation considerations and insights
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Risk management strategies
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Family and business governance matters
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Family dynamics
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Asset protection strategies
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Integrated tax planning
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Business transition planning
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Wealth transition planning conversations
Clients gain access to our partners inclusive of our advisory fee. Our deep and practical senior level experience working with Canadian business owners, and their families, can provide the guidance you need when managing the complexities of business transition.
Not only does our team at BMO have industry knowledge specific to your business, but the business and industry advice provided will be tightly intertwined with the overall Wealth Plan we have created for you and your family – driving a plan for your transition that is tailored to you.
