When people start a business they are usually full of optimism and positive energy for the future. They really don’t want to focus on anything negative. But the reality is, bad things happen to good people, and failing to plan for those events is just going to make the bad times, if they do happen, that much worse.
Here is a really good article with some statistics on Canadian businesses and how good they are at planning for succession. http://www.cbc.ca/news/business/smallbusiness/story/2011/10/20/f-smallbiz-succession-planning.html
In a nutshell, they aren’t. Not only are they not good at it, most aren’t doing it at all.
If you count yourself among those who really need to do some planning, contact me and we can discuss what your business might need. It’s really not as painful as it might seem. Remember, the future is going to arrive whether you like it or not.