Succession planning for Canadian companies is today’s hot topic, whether the goal is to keep the company in the family, to sell it to management and employees, or to sell it to a third party. Why?
- Because many Canadian SMEs are directly affected by succession planning.
- According to the 2006 Labour Force Survey (LFS), 24% of owner-managers in Canadian companies were over the age of 54 and 40% were over the age of 49.
- If we consider that most of them are expected to retire at an average of 60, we can assume that 40% of owner-managers will exit their business in the next 10 years and 57% in the next 15 years. If we apply these numbers to 2009, 40% are expected to retire in the next 7 years and 57% in the next 12 years!
- Because companies are vulnerable when they change executives and owners. The challenges that companies face in the transition to a new generation are numerous. The large number of SMEs that fail concerns many of us.
Ten keys to a successful transfer
- One process
- Two dimensions
- Three circles to draw out the issues
- Four golden rules of communication
- Five items on the family council%u2019s agenda
- Six documents for a sale to a third party
- Seven sources of financing
- Eight elements of strategic planning
- Nine secrets of success for a potential successor
- Ten actions to take by the current owner-manager for a successful transfer
- Two dimensions
We are a network of 1) academics and 2) private partners at the service of current SME owner-managers and the future owners who will assure continuity.
- Chair of Small and Medium-size Business Development and Succession - HEC Montr%uFFFDal
- National Bank of Canada
BCF, Lawyers, Patent and Trademark Agents
Solidarity Fund QFL
- Contact us
- Ask us questions
Where is your family headed? Your company? Its ownership?
Has the transmission process for the company been initiated? Has it been initiated from the owner-manager position? from the successor position? from the company position? from the ownership position?