Given how important SMEs are to the Canadian economy (PDF), and that the issues related to succession concern us all, both individually and collectively, our group devised a mission to help companies succeed in their transition through educating current owner-managers and successors, and providing them some tools to guide them through the process. Our hope is that in doing this we will encourage dynamic and solid succession in Canadian SMEs.

The success of a company transitioning to a new generation owner-manager is directly related to careful process management and leaves little room for improvisation. At the end of the day, improvisation is costly.

We hope to contribute to the success of transitions by encouraging current owner-managers, and even the future generation, to manage the transition process very carefully.

The transition process is the basis for succession planning, which simultaneously requires:

  1. Reflection and making choices on the part of both the current owner-manager and the successor;
  2. Financial resources;
  3. Taking steps and taking action by both the owner-manager and the successor.
  4. Turning to experts: strategy planning and human resource management advisors, chartered accountants, tax specialists, and investment, banking and legal advisors.

The final objective is maintaining continuity in the company, to the satisfaction of the exiting owner and the successor, who is thereafter responsible for his own development and his own future.

On this website you will find steps to take, advice, and tools that we hope will encourage you to move forward and help you achieve the transition of your company. Each situation is different and you will very likely need to adapt the proposed steps to your personal situation. Nevertheless, we are certain that the information on this website will be helpful to you in many ways.

In your company, or the company you are currently interested in, has the process begun? Has the owner started? What about the successor? What about the company itself? This Shopping List will help you take an inventory.