Stronach family squabble offers important lessons in business succession

The more money in a family, the more problems that can arise when it comes time to pass the estate or business on to the next generation. It doesn’t have to be that way, of course, but as we’ve seen in countless anecdotes and even our own client engagements, wealthy families have a tendency to […]

Studies show that family businesses last longer. Here’s why

Family-owned businesses are a key driving force behind the success of the Canadian economy. As an accounting firm that works almost exclusively with entrepreneurs, we see this widespread reality playing out almost every day. Indeed, we’ve worked with dozens of family-run corporations, many in their second or third generations, that have enjoyed sustained financial success […]

The right way to negotiate the sale of your business

Forget the trials and tribulations of starting and growing a business. Many entrepreneurs learn that the true challenge comes when they move to negotiate the sale of their company. There are a plethora of reasons, but the most daunting involve considerations such as valuation (what the business is worth), the competitive marketplace (the number of […]

7 key questions to consider before selling your business

A successful, lucrative exit—it’s the dream of so many entrepreneurs who envision building their business and one day selling to the highest bidder. While others may recoil at the thought of selling their ‘baby,’ the vast majority of the entrepreneurs that I’ve worked with in my career would leap at the chance to exit their […]