The Next Generation Isn't Your Only Succession Option

Within the next decade, approximately $2 trillion of wealth is scheduled to trade hands as Canada's small- to medium-sized private business owners enter retirement.¹  Many of these business owners will likely choose the traditional route, passing their businesses onto the next generation. For those hoping to preserve their legacy and maximize their business's ROI, however, this isn't the only option.

While keeping it in the family may seem like the best gift you can give, in reality only 30 percent of businesses will survive the second generation.² A more effective route would be to explore other succession options available to you—a process that will require a little soul-searching and a lot of planning.