As a business owner, you may have some misgivings about the idea of retirement. The commitment of time and effort involved in building a business can make it difficult to fathom ever letting it go. Whether you plan to retire cold-turkey or ease into a decreased workload, the more planning you do in advance, the greater control you’ll maintain in the future.
Ask yourself:
- Where do you see your business in 10, 20, or 30 years?
- Will you sell it to strangers?
- Pass on management to your children?
- How can you keep your options open?
If your idea is to keep the business in the family, bear in mind that only about 30% of all Canadian family businesses succeed in transferring to the next generation, mostly due to a lack of solid planning. Avoid having your business become a failure statistic by doing your homework and creating a long term plan with the team of professionals from Cindy David Financial Group.
Contact us today to achieve your dreams for your business and your future.
