Have you ever thought about selling your farm or business? Do you know how to start?
If you answered “no,” you’re not alone. A recent Business Development Bank of Canada study found that less than 10% of all business owners in Canada have a formal succession plan. It’s a wake-up call for business owners to start one sooner rather than later.
“Generally speaking, business transitions take between 2-7 years,” says Alison Anderson, Founder, and CEO of SuccessionMatching.com, an online community of business buyers, sellers, and succession planning professionals.