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Transition Planning Issues for Father-Son Businesses

My father was a great guy.  We shared a love of sports, both prioritized family ahead of anything else in our lives, and our senses of humour were so agonizingly similar that nobody could ever question paternity.  Above all, I learned from him the overwhelming joy of putting a smile on another’s face. But we also had some of the negative perceptions typical in father-son relationships:  In his eyes, I was always looking for a short-cut, didn’t appreciate the importance of hard work, and didn’t respect the blood, sweat and tears it took to raise a family in hard times.  Like many sons, I figured he was stuck in the […]

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VEER to sponsor the 2018 Canadian Employee Ownership Conference!

The team at VEER Business Advisors is very pleased to announce that we will be sponsoring the 2018 Canadian Employee Ownership Conference.  The annual event, hosted by ESOP Association Canada, will take place June 4-6, 2018 in Edmonton, Alberta. What is an ESOP? An Employee Share Ownership Plan (ESOP) allows employees, who qualify, to purchase shares in their employer’s company, with or without the monetary assistance from the company. Employees can acquire shares and ownership through an ESOP that can range from one percent to 100 percent. The key aspect is that employees have an ownership stake in the company they work for, and share in the risks and rewards that […]

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VEER is a finalist for BBOT Small Business of the Year!

We’re thrilled to announce that VEER Business Advisors was a finalist for the Burnaby Board of Trade Small Business of the Year Award for 2017!  We wish a sincere ‘Thank you!’ to the Burnaby business community for this recognition.  The nomination, along with the glowing testimonials we received from our clients as part of the application process, reaffirm that we’ve been making a positive impact on local businesses. Thank you again for the honour, and we hope to continue making the Burnaby business community proud!

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Have you done a PRE-mortem on your business?

An unfortunate reality about our business is that we get too many calls from the families of unprepared business owners as they deal with a tragic loss.  Just a few weeks ago, the brother of a business owner called us – his brother had passed away suddenly, leaving the company in turmoil.  Customers and employees were calling, and nobody was even sure where the office keys were. While we were able to assist in a collaboration with a friendly competitor to help with jobs in progress, the business value quickly eroded as potential purchasers left to find alternative suppliers. Additionally, the experience was extremely stressful for the surviving family, left […]

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