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Don't Leave Your Business to Chance

You’ve built a strong and talented team, and now you’re focused on retaining staff members as you grow. With intense competition for talent, how can you ensure you keep your team together?

SMARTshare is a employee benefit program that helps business owners develop customized solutions to keep team members engaged and rewarded, so you can continue your success.

A Comprehensive Plan That Ensures Your Plans for Sharing Profits, Ownership, and Growth Business Builds and Retains Your Best People

SMARTshare is a comprehensive, seven-step program that integrates the core needs of business owners looking to share profits, value, and growth with their team, into one process. This flexible program ensures you meet your goals as an owner while keeping the business on track and your employees engaged.

Tax planning and estate planning are key parts of your exit strategy. Without effective planning—done well in advance—you run the risk of entering retirement with less than you anticipated. Your tax situation will depend on your plans for your business. With a clear understanding of your objectives, our team can take you through your options and help you create a plan that minimizes immediate and future tax liabilities for all key parties.

A business valuation will help you determine how fast you can get to where you want to go by showing where you are now. As part of the ExitSMART™ process, MNP reviews the cash flow and other relevant information generated by your business so you understand the range of values the market will place on your business as it is today. We also identify the value drivers—those factors that will enhance or maintain the value of your operation—and develop strategies that allow you to maximize value. If desired, MNP will also help you implement value-creation strategies throughout the planning process.

The future success of the business, as it transitions to new owners (family, employees or a third party), depends on your Value Enhancement Plan and competitive position in the marketplace. Creating a plan or refining your Value Enhancement Plan after evaluating the strengths, weaknesses, opportunities and threats inherent to your company will give you a road map to guide you through the next one to five years. It also offers all partners involved with the transition many strategic benefits.

Retaining key staff is critical if you want to increase the value of your business. Our team can help you identify key positions in your operation and determine whether the individuals in those positions have the competencies and skills needed for their role. Depending on the outcome, our team can assist with recruiting, developing and implementing retention strategies and drafting contractual arrangements with staff members so that they stay with the business to ensure a smooth transition.

A proper succession plan is the road map to your future. That’s why identifying what you want your future to look like is so critical. In your first meeting, you will work with your ExitSMART™ advisor to articulate your personal and business objectives. These will form the foundation of your exit strategy and help structure the rest of your plan while establishing timelines that meet your specific needs.

Working closely with your Asset and Wealth Management Advisory Team, we can help calculate and craft a plan so you can retire the way you want to.

How your business is structured significantly impacts how it operates and affects all parties involved with the transition of your exit strategy. That’s why we work closely with you and help you separate family, management and ownership issues. This process enables the right people to make the right decisions and ensures your governance structure, today and in the future, facilitates your transition out of the business.

 

 

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National in Scope, Local in Focus

MNP offers offices strategically located in urban and rural centres throughout Canada.

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