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Category: Transitions

VEER Recaps Business Transitions of 2021

2021 was a year to remember and a year to forget (perhaps with the help of a good therapist!). Those of us not directly impacted by heat domes, wildfires and floods consider ourselves extremely fortunate. For those who were, we send our tangible and intangible support, and are blown away by your positive spirit and resiliency. To add insult to injury, COVID hung over all of us like a fog in 2021, seemingly clearing at times only to be swept back in, leaving us straining for visibility and perspective. Through it all, our sense of community remained an even more powerful force. Strangers helped strangers. Families helped families. Like everyone […]

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VEER Supports Successful Business Transitions in 2019/2020

2020 has been a tumultuous year so far with unprecedented health, social justice and economic challenges.  Despite the turbulent times, many business owners continue to take the necessary steps that lead them to a successful business transition or exit. Here is a look back on some of our clients’ successful business transitions over the last year. “Bill” was introduced to VEER by his external accountant in March 2017.  He was the majority owner of two businesses. One a value-added reseller of a suite of high-end technical software products and the other a consulting firm that supported clients to optimize the benefits of their technology.  Bill had led the businesses for […]

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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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Family Business Transitions – All in the Family or Letting It Go?

In this issue, we look at some of the common issues faced when family business owners consider transferring ownership to the next generation. Mark has been working full time in the family manufacturing business since he was 18 years old – he is now 42.  His parents started the business when he was 7 – it was his part time and summer job as a teenager, and he juggled time at the plant with getting his college business diploma.  His parents are now in their mid-60’s and it has always seemed a foregone conclusion that Mark would take over the family business from his parents. But Mark has a number […]

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