Business Succession
We understand that you have grown your company with hard work, diligence and tireless effort. For most entrepreneurs, their business is the master piece or legacy that they’d like to leave to the next generation.
The plan of succession is usually the last thing business owners like to think about. But it is necessary, no matter the situation you are in, an exit strategy can help you pass your business successfully. An effective transition of your company will be a key step in achieving your financial goals.
The lack of a proper succession plan could produce family disagreements and internal (business) politics would threaten the future of the organization. In some cases, companies without a well-executed succession plan could find themselves being pushed into bankruptcy or receivership.
Syrja & Associates can provide you guidance on the many aspects of a business succession plan, such as:
- How to minimize the amount of tax you pay
- Make purchase and sale of a business
- Determine if you are eligible for a lifetime capital gain exemption and how to access it.
- Comprehend shareholder potential limitations and agreements that they may place on your succession planning