Are you a business owner without a family member or unrelated
successor in mind? Many Canadians find themselves in this
predicament. They have spent most of their adult lives building up
a business, only to reach retirement without a succession plan.
Creating a plan to sell your business doesn't have to be
difficult. In this regard, an early start can be most helpful.
Relatively small changes starting at least three to five years in
advance can potentially reduce the complexity of the sale and
increase the selling price.
Income statement – different set of eyes:
Prior to selling your private business, it is likely that the
only outsiders that have seen your "numbers" were your
lenders and the tax authorities. From an income tax perspective,
since most people like to pay as little tax as possible, owners
often try to defer income when possible to reduce their immediate
tax burdens. When you are thinking about selling your business, the
reverse becomes true. You want
