BURLINGTON BUSINESS LAWYER Succession Planning

Business succession planning is really about preparing your business for its future sale or transfer, enabling the business owner to exit with the highest return from his investment while having confidence in the business' continued operational success.

What is amazing about succession planning is how little time and preparation is often dedicated by the current ownership to its pursuit. Instead, far too many owners simply believe that the value is there and they will be able to take it when they decide to retire or pursue an alternate venture. That is rarely, if ever, the case. Effective succession planning requires considerable preparation that should begin many years in advance of the actual transition. It transforms an operational business into a transitional business, which is tweaked and modified to obtain the most value from its disposition.

By waiting until the last minute to transition out of your business (which is a horrible plan given all the time and effort you've expended to make the operational business a success), you will in most cases be taking a massive cut in your realizable financial return. It is astonishing how much upside business owners throw away because they fail to adequate plan long in advance. Planning that is undertaken with the right team of experienced professionals (lawyers, accountants, investment advisors, business consultants), whose knowledgeable advice is implemented, pays serious financial dividends.

Serious business owners who are committed to maximizing the return on their business succession plan should contact Burlington business lawyer Christopher R. Neufeld at 905-631-3662 or Chris@BurlingtonBusinessLawyer.ca to discuss their options and launch a business succession plan that works.

Burlington Business Lawyer Christopher R. Neufeld is a lawyer with the law firm of Feltmate Delibato Heagle LLP and is admitted to practice law in both Ontario (Canada) and New York (U.S.A.). Christopher's legal practice focuses primarily on business law, in particular corporate commercial transactions. The law firm of Feltmate Delibato Heagle LLP is located in the western Greater Toronto Area (GTA), with law offices in Burlington and Oakville, in immediate proximity to downtown Toronto, Mississauga, Hamilton, Brampton, Milton, Guelph and Kitchener Waterloo. COPYRIGHT 2009.

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