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By Adam Freill
Upcoming SUCCESSion 2025 event looks to help business owners, including those in the construction sector, who are exploring the sale or transition of their companies to the next generation of leaders.
Over three-quarters of owners of small- to medium-sized businesses (76 per cent) are planning to exit their business in the coming decade, according to 2023 research by the Canadian Federation of Independent Business (CFIB), and this includes companies in the construction sector. But they face obstacles, with the most common being finding a suitable buyer. Some 54 per cent of owners struggle with this. Other challenges include valuating their business or getting the business to run well without their input, otherwise known as working “on” and not “in” the business.
Selling or transitioning your construction or contracting business to new owners is a big step, and one you only get to take once. It pays to start early, plan thoroughly and seek expert advice. A new event happening this spring is gathering small to medium Canadian business owners to do just that.
Whether you are a five-person operation or employ 500, SUCCESSion 2025 is a one-day event that will help you do just that. The time-effective format covers:
- Effective strategies for family-business transition.
- Timing and valuation tips.
- Building a template and two-year plan for your own business transition.
- Real-life case studies of successful transitions.
- Tax and legal considerations.
- Employee and management ownership options and case studies.
- Understanding buyer motivations.
If you are thinking of transitioning your business next year or in 10 years, experts suggest you start building the plan as early as possible to maximize your return and protect your legacy. Join more than 150 business owners and operators just like you for this informative networking event to get started.
Details and registration can be found here.