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Whether you intend to sell the business to a third party, transfer it to family members, structure a management buy-out or wind it up, advance planning can help you make better long-term decisions.

Would your business be prepared if a catastrophic event occurred? Do you have a plan to cover the potential loss of a key person through choice or due to serious illness, disability, or death, or to mitigate the consequences of a divorce, which can have a substantial impact on a family business? Planning ahead can help you limit the damage to the business you have worked so hard to build, and to which you have committed so many resources. Here are some strategies to help protect your business:

As a business owner, you've worked hard to accumulate your assets, so it is important to take precautions to protect them from risk. Following are some strategies that may help.

The loss of a key employee can be very expensive to an organization, so give some thought to how you can motivate key employees and keep them focused on the company’s priorities.

If you are the owner-manager of a private Canadian corporation and have surplus cash accumulating in your company, you may be wondering whether to retain the funds in the company or withdraw them while paying as little tax as possible. If so, there are a number of questions you should consider before you take action.

Many business owners have substantial personal assets invested in their business. This can have significant implications, not only for you and your business but also for your family’s financial security. To protect your investment, both business and personal, your business strategy should include carefully structured tax-planning components to ensure you have organized your assets in the most tax-effective manner and utilized the tax-planning strategies available to you.

Whether you already own your business, are thinking of starting a business from scratch or buying an existing business, choosing the right business structure can have a major impact on the future success of your enterprise – as well as your personal tax and estate planning. Your decision should take into account a range of factors, including the nature of your business and where it’s located, the number of people involved, taxation considerations, your potential exposure to liability and the company’s financial requirements.