Excerpts from: Business Succession Using Co‑operatives in Official Language Minority Communities

The research analyzed dealt with the financing of the purchase of the business by an individual buyer, i.e. the transfer of assets, and then with the transfer process:

  • The importance of educating potential sellers about planning several years in advance before selling their businesses to limit the risk of failure;
  • Valuation of the business, modelling of transfer plans and tax planning of the sale for the seller;
  • The importance of involving outside players in the seller/buyer core, namely, those having a key influence on the sellers as they make their decision to sell (accounting and law firms), economic development agencies that can provide advice or financial support, and business associations that are able to educate potential sellers in advance.

Excerpts Lit Review Bus. Succ’n to Co-ops in OLMCs