We understand the specialized markets in which you operate and provide tailored solutions to meet your unique business needs.
Our comprehensive suite of business services combines industry expertise, market knowledge and professional insights.
MNP is a leading national accounting, tax and business consulting firm in Canada.
Suite 2000, 330 5th Ave. S.W.
MNP careers are Different by Design. As an entrepreneurial firm, we truly believe there are no limits to where your career can go.
This is a difficult question to answer as there are so many family specific variables. The succession process, when done properly and with the involvement of all the required individuals, may bring forward conflicts which are often invisible at the outset. No single formula or approach will fit all business families, but there are some things to consider when addressing this question:
Effective succession planning should anticipate what could cause family conflict. One way to address pressure and conflict between family members who are active in a business and those who are passive, is to have open conversation in advance about matters that may end up in legal agreements (such as shareholder agreements). These agreements, when resulting from honest and full conversations about all the important matters, can reduce divisiveness amongst family members when circumstances change in the future. I would rather have business families discuss these issues in times of low pressure and anxiety, than when big decisions need to be made and all or some of the role-players feel like their backs are against the wall. Get the help of someone to guide you through this if needed.
For more information as to how you can successfully transition out of your business, contact Eben Louw, CPA, CA at 604.870.7413 or [email protected].
Find an office near me