Small Business Owners and the Economy
Many business owners feel that when they want to retire, they will simply list their business for sale with a real estate agent. But in reality, business owners need to begin this preparation years in advance whether they plan to sell it or transition it to staff or family members.
"Succession planning is no longer an issue that impacts just the business involved -
with the high number of local businesses owned by baby-boomers nearing retirement - it is an issue capable of affecting Greater Victoria's economy as a whole," said Chamber CEO Catherine Holt. "We cant afford to lose the commercial activity or business knowledge that goes out the door if the transition is unsuccessful."
Read more in the Canadian Chamber of Commerce's
5 Minutes for Business