Succession Planning Calgary

A stable and growing business is a serious point of pride for any dedicated entrepreneur, but what about your company’s future in the long term? Whether you’re selling it, passing it down to the next generation, or closing it down, we can help you ensure a smooth succession process.

Passing the Torch

After devoting so much time, money, and effort to the creation and operation of your business, it’s only right that you take the necessary steps to shape its future in precise accordance with your needs. If you’re planning to sell, how can you get the utmost value for what you’ve built while enabling a successful transition of ownership? If your retirement is on the horizon, who is best suited to take the wheel and bring the company to new heights? Whatever the circumstances may be, a smart and advantageous exit strategy will make all the difference in your financial future, not to mention that of the company and your family.

Common Challenges

Succession can be quite tricky, so without planning ahead skillfully, a number of issues and mistakes are prone to arise. It’s not uncommon, for instance, for owners to “set and forget” their succession plan without revising and updating it regularly, to lack a detailed and accurate valuation of the business, or to overlook the pivotal differences between the succession of ownership and of management. Additionally, family tensions or disputes may introduce difficult hurdles to the planning process, and poor tax planning can lead to considerable losses. Everything is more surmountable when you’re well-prepared and have the right help.

Planning with Our Team

The CPAs at Cook & Company possess a detailed and tactful understanding of business succession planning and its many moving parts. We recognize that transferring the ownership and management of a company is a personally and professionally delicate process, so it is always our priority to pursue a standard of care that is as respectable as our services themselves. Family and owner-operated businesses deserve nothing less than to feel well taken care of for at every step of the way, so when you build a succession plan with us, you can rest assured that the future of your company is in the right hands.

To get the right succession planning services for your business, you’ll need the help of CPAs who can be there for you in ways that the big firms can’t. Call (403) 398-2486 to find out why Cook & Company is Calgary’s most dependable team of chartered professional accountants.