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Itís never too early to start planning
Owners of successful small businesses are often so wrapped up in the day-to-day operations that they neglect to plan ahead for the day when they will exit their business. In fact, our research shows that only a small number of business owners have developed formal succession plans or other value-realizing exit strategies, despite the fact that a smooth transition can have a positive effect on a business and the incoming and outgoing owners.
Thinking ahead is essential to ensure that you can achieve your goals and that your business can either carry on without you at the helm or be sold for its maximum value.
No matter what your objectives, CIBC can help. Your CIBC business advisor can draw on the wide range of expertise within CIBC, which spans estate planning, financing, investing, and wealth management, to help you transition your business to new owners or realize the maximum value of its assets. Our team can work with your existing advisors, such as your companyís lawyers and accountants, to provide you with comprehensive advice.
Visit a CIBC branch or contact a business advisor.
Succession planning may be right for your business if:
This article is intended to provide general information about CIBCís services and should not be construed as legal, tax, accounting, insurance or other advice. CIBCís advisors provide high-level information to help plan the transitioning of a business and can work with you and your team of tax, accounting, insurance, legal or other professionals to help craft a transition plan that is tailored to address your individual circumstances.
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