Business Succession and Insurance Planning
Every business needs a plan.
Planning makes a business more valuable.
Most business owners are too busy running the business to find the time to write a succession plan. They understand the need to plan but are not sure where to begin.
A written plan is a road map to success for business owners.
It increases the value of the company, protects shareholder values and provides piece of mind to all stakeholders.
A Business Succession Plan will head off problems:
- Shareholder disagreements
- Business Valuation questions
- Compensation issues
- Family influence
- Equalisation with family members working outside the business
- Retirement planning
A written plan is invaluable in the event of:
accident or illness or early death of key persons
unsolicited offer (the plans means you are always ready to sell for the right price)
family members or management who are interested in ownership and continuity
Nick Godfrey talks about the importance of having a written succession plan.
Early succession planning enables you to:
- Maximize the value of the business and, consequently, its potential selling price
- Explore a broader range of transition options
- Take the time to choose the right successor and acquaint him with the business
- Set up the proper financing
- Have a positive impact on your business’ long-term viability
Good business transition planning increases your chances for success. It is the best way to secure your company’s continuity.
Download our FREE Business Succession White paper
If you do not have a business succession plan start today!
Call Nick Godfrey 905-815-7186 to book a free 30 minute consultation.
Nick Godfrey, the owner of ProInsure, has sold 3 businesses. He has been in financial services for over 20 years and has a deep understanding of investing, insurance and business planning. Nick said, "We started asking our business owning clients what their successions plans were. They all knew that needed to plan but they didn't know where to start, so I figured it out for them and the rest is history."
Nick has been an Oakville Ontario resident for more than 20 years. He is an avid hiker, fisherman and outdoors man who loves to explore the local Conversation Halton recreation areas with his wife, son, daughter and springer spaniel.
Nick is also the Chairman of the Oakville Ducks Unlimited Canada annual fundraising dinner.