Business
Succession
Why is it critical?
By Richard Niedermayer, TEP
A
tlantic Canada has a high percentage
of family and owner-managed business,
and these enterprises are set to undergo
significant transition over the next few
years.
In a survey conducted by Canadian Capital
Magazine, 94 per cent of respondent business
owners felt it was important to build a succession
4 FALL 2013 Doing Business in Atlantic Canada
plan, but 62 per cent did not have a succession
plan in place.
Further, 43 per cent said they planned to sell
or pass on the business in the family and 34 per
cent expected their transitional event to take place
within the next five years.
In Atlantic Canada, owners and entrepreneurs
tend to stay active in their businesses longer, mak-
