Succession planning (also known as transition planning or exit strategies) is when a business owner chooses the best exit strategy to transition into the next stage of their life successfully.

According to a 2018 Canadian Federation of Independent Business survey, 72% of business owners intend to exit their business with the next decade. Ensuring a smooth ownership transition requires an effective succession plan. Yet, less than half (49%) of business owners have a succession plan, and only about one in ten (8%) have a formal written plan.

Whether business owners decide to exit or transfer ownership of their business, having a succession plan is critical for a smooth transition.
The bottom line is preparation, and that’s where we can help.

For our members seeking advice on succession planning and exit strategies, or financial planning tips, Sunrise Credit Union has aligned with a team of industry professionals, each of which brings a unique set of skills to the table.

To get in touch with a succession planning expert, contact Sunrise Wealth Management by filling out the form below, and one of our knowledgeable professionals will get in touch with you.