Tsunami of small business owners planning to exit, putting $2 trillion on the line

But what happens to that $2 trillion in assets is crucial, because about 50 per cent of Canada’s gross domestic product is created by small- and medium-sized businesses, which together employ more than 80 per cent of workers, Pohlmann said.Article content

Stress and burnout were listed by 22 per cent of owners as the main reason why they want to move on from their businesses, while 21 per cent said they wanted to exit so they can step back from the daily responsibilities that come with being a business owner. Businesses need to make sure they are creating proper succession plans, Pohlmann said, because it can be a cumbersome process in which owners must weigh tax implications, the impact on their staff, and other legal considerations.Article content

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business leaders urge ‘Three Amigos’ to move past trade disputes, embrace ‘Team North America’ approachCanada, Mexico, U.S. leaders set to meet in Mexico to talk about boosting trade and investment and building a better supply chain to fuel the continent’s electric-vehicle production IF they redo the trade deal can we remove Section 230 as a law that Big Tech baked into the last one putting a 1996 US law automatically onto Canad and Mexico? Section 230 allows Big Tech platforms to thrive with no gates or reprecussions for hate, lies and dismantling of truth. Maybe some outside help to deal with the Mexican cartels? As is now, all US wants is to ignore Canada. To be honest, that’s exactly the right thing for US, regardless whether it has a Republican or Democrat in the Oval Office.
Source: globeandmail - 🏆 5. / 92 Read more »