Products tagged with 'exit strategy plan'

Learn the Top 10 Tips to a Winning Exit Strategy with this 8-page article written by an expert business lawyer.

• The aim of the article is to help small business owner-managers prepare a succession plan to ensure that their businesses continue to thrive after their departure.
• These top 10 tips can help you put together a successful exit strategy that not only addresses your personal needs, but is also in the best interests of the business.
• The author is an Ontario lawyer whose main focus is small businesses.
• Available as a PDF download.

Plan for the future of your small business - learn what you need to know about Business Succession Planning in Canada with this 8-page expert guide.

The guide describes the different types of business structures under Canadian laws, the pros and cons of each type of corporate entity. In addition, it discusses:

• how to extract value from your business,
• corporate investing,
• exit strategies,
• family businesses,
• tax planning and estate freezes.

Business Succession Planning in Canada is intended for Canadian businesses and is provided in PDF format.

This free article will steer you through the issues to consider if the sale of your business has an earn-out component or a deferred payment (seller financing) option.

Key Issues

This article covers a number of issues that must be considered, including:

• determining a fair price,
• negotiating reasonable terms and interest rate,
• determining the amount of money the buyer will put in at the outset,
• securing the unpaid balance of the purchase price,
• considering rights of setoff,
• setting payment milestones, and the consequences for missing a milestone,
• dealing with financial needs and operational decisions of the business until the purchase price has been paid in full.

Risk Management Strategies for Problems Arising After Closing

The writer also touches on how you should address potential problems that could arise after the closing, such as:

• Death of either party
• Default
• Insolvency of either party. 

Planning Your Exit Strategy

The information provided in this article is intended to help small business owners exit from their businesses through a carefully structured seller-financed or earn-out sale arrangement.

Author Credit

This article was written by Phil Thompson, business lawyer and corporate counsel in Ontario, Canada.

Every family business should have a succession plan in place.

This article will help you identify the issues to consider when planning your succession plan / exit strategy so that you can retire and pass on your business to the next generation.

Why does a family business need a succession plan?

This article by the Harvard Business Review discusses the reasons why family business owners need to design a transition plan to avoid tension, discord and disruption to business operations.

Topics Discussed

The topics covered in "Succession Planning and the Family Business" include:

• Examining the reasons for leaving the business to a specific family member.
• The most common mistakes in crafting a family-based succession plan.
• Determining what is best for succeeding generations.
• Tips for creating a successful succession plan.

Author Credit

This expert guide was written by Phil Thompson, business lawyer and corporate counsel in Ontario, Canada.

This guide for small business owner managers explains how you can include senior employees in your business succession plan.

Why You Should Include Employees in Succession Planning

There are a number of good reasons to include your long-time employees in your business continuity planning:

• It is a way to give deserving employees an opportunity to acquire the business.
• This is a viable alternative if your family members have no interest in taking over the business. 
• Senior employees often represent the best possible buyers for the business, as they are already actively involved in its operation.

Contents of the Guide

This guide sets out the pros and cons of this exit strategy, the issues you need to consider, and how to structure the deal in the best interests of all parties.

Author Credit

This expert guide was written by Phil Thompson, business lawyer and corporate counsel in Ontario, Canada.

This Guide to Partnership Buyouts can assist you in structuring a transaction to sell your interest in a business partnership, or buying out a partner's interest.

Whether you are buying out your partner, or you are the one being bought out, and whether the buyout is friendly or bitter, or sudden or planned, there are many things you need to think about when developing the exit agreement.

Key Points of the Guide

This expert guide offers insights into:

• why business partners fight,
• the role partnership agreements play in disputes,
• how to avoid disputes when the partnership terminates or a partner leaves,
• a comprehensive checklist of issues to consider when buying out a partner.

Jurisdiction

This 8-page guide focuses on Canadian businesses but contains general information for U.S. partnerships as well.