Passing the torch as a business leader: challenges and advice for business transitions
Business Transitions Forum
A successful business is one that is able to transition and move with the ebbs and flows of the economic landscape – and a big part of that has to do with times of transition in the company.
There are many shapes and forms of business transitions, from a direct seller-buyer transaction to family succession.
But it’s not always clear to business owners how to go about making these sorts of transitions.
A recent survey by Business Development Bank of Canada found that four out of 10 small and mid-sized business owners in British Columbia plan to exit in the next five years, but many are not prepared for the transition. [Continue reading]