Baby Boomers Own 42% of Small Businesses in Canada – What Happens When They Retire?

In Canada, as in many advanced economies, the age group that grew the fastest in recent years was those aged 65 and over. That’s not pandemic-related, it’s simply the aging of the baby boomers. Those over 65 tend to have the lowest labour force participation rate, and that has been pulling down the growth of Canada’s labour force in recent years, according to recent remarks by Tiff Macklem, Governor of the Bank of Canada. In addition, many small businesses in Canada are owned by Baby Boomers.  There’s a potential problem if Baby Boomers own a business and plan to use the money they’ve invested to pay for their retirement years.

In many cases, a disproportionate amount of a business owners’ equity is tied up in their business. So, what does all this mean?

How do you help these clients maximize the value they receive for their company upon sale of transfer?  How do you shore up your knowledge quickly to answer on-the-spot queries? Check out Knowledge Bureau’s new CE Savvy Biz Ed™ line up of interactive, short courses from Knowledge Bureau. 

Today’s preview: Getting the Business Ready for Sale

Why You Should Take This CE Savvy Biz Ed™ Course:  Since succession of the leadership position of a business typically involves a transfer of ownership, there are a number of financial considerations that must be addressed in order to plan and undertake a succession event. 

In this module you will gain insight on how value is established for a business and how it relates to succession planning.  You will also learn different approaches to structuring sales proceeds and what that structure could have on the business leader's on-going role.

What You Will Learn:  This CE Savvy Biz Ed™ course discusses how wWhen it is time to develop a succession plan for an outgoing business leader, there are a number of issues that need to be considered well before the sale of the business. The value of the transaction and how the proceeds of transferring ownership could occur are two of the key issues. But business leaders must also consider their financial requirements after a transfer of ownership, and whether or not they require a continuing income stream. This module will help you understand all the issues to be considered when it’s time to sell your business and how to add value to your business before the sale so that you can realize the best deal possible.

Questions you’ll be able to answer:

• What are some of the characteristics of the notion of “value”?
• What is the difference between financial value and strategic value?
• How can strategic value be created in a business?
• How does valuation impact the succession planning process?
• What are some approaches that could be used to estimate value?
• How could the structure of sale proceeds impact the business leader’s ongoing role in the business?
• What should a business leader consider when assessing their income requirements post-succession?

Included with the course:

• Industry leading, interactive education module designed to make learning more enjoyable
• Knowledge Bureau continuing education accreditation
• Certificate of completion that can be shared on your LinkedIn profile to promote your expertise

ENROL NOW!

Only $69 and an hour of your time can act as a catalyst to grow your business and expand your knowledge base. Or save time and money by signing up for an annual subscription and gain on-demand access to the comprehensive CE Savvy Biz Ed™ professional library for the low annual fee of $995 or $99 per month.  Taxes extra.  Qualify for a tuition fee credit when you spend more than $100.   

GET UNLIMITED ACCESS TO CE SAVVY BIZ ED™ NOW!

Here is what one of your peers had to say about this program:

“I love the Knowledge Bureau CE Savvy Modules! It will now be our firm’s first place to enrich our knowledge and skills while earning our required CE credits to maintain our registrations. Personally, it is easy to login, find the topics of interest, easy to navigate through the courses, and the special effects (pictures, diagrams, animations) make you want to stay on-line and complete otherwise boring topics …. Because Knowledge Bureau makes it fresh and exciting! Thank you for this invaluable tool!”

D. Tony Mahibir, CEO, CANFIN

MBA, CMC, RWMTM, CIM, RRC, CFP, FP Canada Fellow

Interested in Earning Specialized Credentials inTax, Accounting, Financial Services Programs? Download the Course Catalogue today

©Knowledge Bureau, Inc.  All rights Reserved