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Exiting your Business

Succession planning

Succession Options

BDC Perspective: Make the right exit choices. Know the options available to you when it's time to hand your business over to somebody else.

What’s next for your business? Follow a step by step guide to help you navigate through the complex process of succession planning for your business, including goal setting, strategy development and the execution phase.

Guidance on Succession Planning

Succession Planning Guide. Find out what you need to consider and the decisions you need to make in order to achieve the successful succession of your business.

Put a price tag on your business: A guide to business valuation. Before you approach potential investors or buyers for your business, you need to assess the value of your business. Learn about the different ways to calculate the value.

Succession can breed success. Turn the risks and challenges of retirement into opportunities for yourself, for your employees and the economy at large.

Business Transition - The Entrepreneur’s Guide. Each of the seven sections in this guide deals briefly with an important topic that can help you make appropriate decisions for your future and the future of your business during the business transition process.

Leaving your Business: Succession Planning for SMEs. Find out why succession planning is important and what you must think about to ensure a good future for yourself, your business and your family.

Implement a Succession Plan. Follow the steps set out by the BDC to ensure your business transition goes smoothly and profitably.

BDC Perspective: Make the right exit choices. Know the options available to you when it's time to hand your business over to somebody else.

Make it work for your family. Passing your business on to family members can be stressful, unless it is done properly. The BDC has suggestions to make it easier for you.

A Common Exit Strategy (MBO). Learn more about management buyout (MBO), which consists of the management team pooling resources to purchase all or part of the business that they manage.

Selling a Business: Questions and Answers. When selling your business or even part of your business, the Canada Revenue Agency can answer your questions on subjects such as business number, payroll and GST/HST.

What’s your Business Worth? Learn how to determine the value of your business and find ways to improve it.

Canadian Institute of Chartered Business Valuators. Enlist the help of an expert who can quantify the worth of all, or part, of your business or its securities.

Closing Accounts. When closing your business, don't forget to complete forms required by Canada Revenue Agency.

Corporations Canada: Dissolving a Corporation. Find out what steps to follow and what forms are needed to obtain approval for the legal termination of your corporation under the Canada Business Corporations Act (CBCA).

Shutting Down your Ontario Corporation. Follow these procedures to voluntarily shut down your Ontario corporation.

RBC Business Succession Planning: Your Essential Road Map. Use this workbook to write notes as you develop your succession plan.

What’s next for your business? Follow a step by step guide to help you navigate through the complex process of succession planning for your business, including goal setting, strategy development and the execution phase.

CIBC - Succession Planning.The CIBC has articles, tools and services to help you build a succession plan that reflects your personal and business goals.