Boomer Business Owners Are Missing Out On Cashing In,
Unless They Start Preparing Properly for Sale
TORONTO, ON, March 31, 2017 - Boomers (born 1946-1964) own about 63% of private companies in both Canada and the United States. Of the businesses available for sale, 70-80% don't sell. Incredibly 44% of Owners say they aren't familiar with their transition options, 24% do know what their choices are and 32% are not sure. As for getting help, 88% have not yet established a formal transition team.
Author Eric Gilboord says "Owners need to get started now, preparing their business and themselves for transition." Or the impact on their personal finances will be devastating. Many Owners are carrying on business as usual. The current thinking of many smaller Owners is to take as much money out of the company as they can for the next few years, and then sell for what they can get or simply close down. Neither solution is in their best interest."
Typically this premise works best when you have no side motive. Help for the sake of helping and if some benefit comes to you be grateful.
Do you know a 60+ year old owner of an established business? Perhaps a friend, spouse, parent or client.
Are they feeling 'a little stressed about transitioning out of their business'? They may not say it out loud, but you know them well enough to be concerned.
If yes, please click here and find out how they can turn that stress into happiness. Or simply forward this page.