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Category: Transitions

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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Success Should Not Be a Surprise

When Canadian tennis sensation Eugenie Bouchard reached the Wimbledon Women’s Singles Championship game, after being ranked just 133rd in the world in 2013, a reporter asked how surprised she was at her success. “It’s not like a surprise to me — I expect good results like this,” she said.  “I’ve put in a lot of hard work and it’s been kind of years in the making to me.  So I believe in myself and I expect good results.” Success in tennis was not a surprise to Bouchard, and success in exiting a business should not be a surprise to business owners or their advisors. With hard work and preparation, good results should be expected.  The […]

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