Patrick Barrette, CFP, CIM, FMA
Investment Advisor & Financial Planner
BMO Nesbitt Burns
1445 West Central Street
Prince George, BC
Business Owners & Incorporated Professionals
Whether start-up or mature business, we understand the unique needs of business owners and incorporated professionals as well as the complexities that are involved with the integration of business and personal wealth.
We can help align your personal goals and business priorities you face as an owner, including asset preservation and maximizing capital, financing, personal and corporate tax planning and succession planning for the transition of management and ownership of your business, whether to a family member, employee or a third party when you are ready to move on to the next stage of your life.
- As a business owner, you’ve worked hard to build a successful business, and may envision your children eventually taking ownership and control when you retire. Having a succession plan in place will help to ensure a smooth transition to the next generation, and the continued success of your business.
- When we speak of “business succession planning” for private companies, some people think only of tax and estate planning, while others may only consider a transition in the share ownership of a business. While those are each important elements of succession planning, on their own they do not cover everything that needs to be included in an effective succession plan.
- The sale of a company can be a difficult and confusing process for owners of privately-held businesses. Unlike purchasers, who may acquire a number of companies over time in fulfillment of their corporate strategy, most owner/managers have never sold a business before and consequently have difficulty separating the pragmatic decision-making role from the emotional aspects of a sale.
- In the absence of planning, when an individual passes away owning shares of a private company, they could be exposed to double or triple taxation.
See publications for business owners - with articles on tax planning, succession planning, and charitable giving