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 […]
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!
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 […]
Management Buy-ins, Partner Buy-outs and Outright Exits 2017 has been a busy year for VEER and our clients. While several other engagements continue, on track to achieve the transition objectives of our business owner clients, we thought we would share a few happy stories from the first six months of 2017: We met “Jack”, owner of a Fraser Valley horticulture company, at a conference in June 2016. Jack was interested in selling a division of his company, while continuing to run the rest of the company for a few more years. We completed a Value Enhancement and Exit Readiness Assessment, which included our estimate of how purchasers would value the division, an […]