Selling a business or passing it on to the next generation can be the most important financial event in an entrepreneur’s lifetime. But Canadian small business owners are not succeeding when it comes to succession planning, reveals a new IPC Private Wealth poll.
According to a poll of 300 business owners with 50 or fewer full-time employees, 42 per cent are uncertain about their retirement and almost half – 48 per cent – have no plans to seek the help of a financial advisor regarding business succession planning.
The good news is that the poll’s two most startling findings: uncertainties around retirement and financial advice – are linked and, fortunately, quite solvable.
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