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Business Owners & Professionals

Can you afford to let everything slip through your fingers?

Many business owners don’t even know they have a problem with business planning. Do you? Understanding the issues can mean financial health for you, your business and your family. Click here to learn more.

Business Owners are unique: Is your Security Plan in place?

Their personal security is tightly tied to the success of their business and that success rests primarily in business owner's hands.

Concerns fall into 6 major categories:

  1. Growing the business
  2. Availability of capital (for operations or funding)
  3. Tax Savings
  4. Creditor Protection
  5. "What if?" Protection 
  6. Business Exit Strategy

Shareholder's Agreements

In business situations where there is more than one owner, the most important document after the company charter is the shareholder's agreement. It contains provisions for what will happen in the event of death, disability or disagreement and generally calls for the provision of insurance funds to meet these crises. They can even contain provisions on the sale of the business that allow some of the tax liability to be retained by the purchaser. This type of agreement option is called a hybrid agreement and is frequently not even considered.

Maintaining the Banker's confidence

In the normal course of business operations, companies develop relationships with their bank to insure that cash is available in the business for expansion, major expenditures and operating capital fluctuations. The job of the banker is to protect the bank's interest and any time a change in circumstance occurs, the bank reassesses their position. 

Changes in circumstance can be caused by several things:

  • Major Illness
  • Death of an owner,partner or key employee
  • Disagreements between partners

Proper insurance planning can provide liquidity that maximizes the banker's confidence.

Creditor Protection

Naturally, business owners want to protect there assets from creditors and typically the first line of defense is established through your corporate structure; Holding Companies and Trusts.

Other tools are available such as Individual or Group Pension Plans, Segregated Investments,and carefully structured ownership of assets.

One commonly misused tool is creditor insurance. Proper ownership will result in significant tax savings in the event of a death. Improperly structured plans miss the benefit.

Planning for Business Owners

Our Business Owner's Security Platform™ address all these issues as well as providing a focus on retirement planning, tax and expense saving strategies. Once retired, income management, tax minimization and estate distribution needs provide additional opportunities for benefits to a business owner. We can help. Out team has a wealth of experience, access to professional resources in specialized areas and a desire to insure that you receive the best possible advice and service form us.

Identifying Potential Barriers to Selling Your Private Business

Selling your business should never be an impulse decision, and the process leading up to the sale can take years. It is critical for a business owner to have a realistic understanding of the steps involved to prepare for a potential or eventual sale, even if there are no current plans to sell in the next few months. Click here to learn more.

Be prepared to sell your private business

Do you own a private business?  Has the thought of exiting the business ever passed through your head?  If it has, prior to selling the business, it’s important to identify your needs.  Are you exiting to pursue a new passion?  A wanted change of pace in life?  The answers to these questions are essential to finding the “right buyer.”  Click here to read more.    

How to understand the value of your private business

Private companies make up a large proportion of businesses in Canada and across the globe; however, the average investor most likely cannot tell you how to assign a value to a company that does not trade its shares publicly. This article is an introduction to placing a value on a private company and the factors that can affect that value.  Click here to learn more.

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