May 22, 2019

Nearly 75% of entrepreneurs will exit their businesses in 10 years. Who will fill their shoes?

Business owners who own and run successful businesses do so because they have put in the time, energy, as well as finances to make it successful. Business owners looking to retire by handing over their business to a family member may find themselves paying more taxes than just selling to a non-family member. If the government wants to keep Canadians working and succeeding, the laws need to be changed. Business owners should also take a long-term approach and plan way ahead of time about how they will turn over their companies to minimize issues when the time comes.

“Nearly three quarters of small business owners in Canada will be faced with this challenge in the next 10 years, leading to a transfer of business assets potentially worth more than $1.5 trillion.”

Read more:

Ask Our Experts

Quadrant is dedicated to your financial success. Get expert advice and insights to grow your business and plan for your future.

Request a Consultation