Succession Simplified

Changes in Business Ownership

The Canadian Federation of Independent Businesses (CFIB) reported that 72% of Canadian small business owners intend to exit their business within 10 years. That is over $1.5 trillion in business assets. With 51% having no succession plan, it could mean the outright closure of many businesses.

Using the CFIB numbers, as many as 1,850 businesses in the Western region could be at risk of closure within a decade, if succession does not occur

The Western REN's 6th Annual Summit is focused on business succession. Hear from regional business owners - past and present - as well as legal, tax, and financing experts about the many approaches to buying and selling a business.

Benefits of succession planning include:

• Stability for staff. Knowing plans are being made for the business to stay in business generates a sense of security.
• Value added business. Creating continuity, including growth plans beyond your ownership, can increase the value of your business. 
• Peace of mind. As a business owner, employees are often like family. Insuring business stability is a comfort to all.

Whether you are thinking of exiting your business this year, or not for many years to come, succession planning makes good business sense. 

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• 8:30am -  Registration opens
• 9:15am -  Welcome
• 9:45am -  Panel: Voices of Experience
  Moderator: Brenda LaGrandeur, Succession & Connector Program Manager
   David Arenburg, experience building and selling franchise
   Katie Goodwin, buying a business to move back home
   Warner Comeau, a family sale perspective
• 10:30am - Break
• 11:00am - Panel: Subject Matter Experts
  Moderator: Angie Greene, Chartered Accountant and Western REN Director
   Robert Patzelt, the legal angles
   Paul Ryan, finding the capital
   Brad Langille, tax-efficient transitions
    Harold Duffett, business valuator
• 11:50am - Keynote presentation by Zach Whynot, Manager TriVan Fisheries Consultants
   Never just one business. Why succession planning is important to the region's economy
• 12:15pm - Wrap up and **PRIZE DRAW**
• 12:30pm- Lunch and networking