It is a well-known fact that family-owned businesses play a significant role in the economy. They generate more than 45% of Canada's gross domestic product (GDP) according to figures from the Canadian Association of Family Enterprise.
We also know that the average age of these business owners is rapidly increasing. However, surprisingly a majority of these have not yet even established a process to select a successor.

It then becomes abundantly clear that family-owned businesses need to start to plan for the succession.

Recognizing the critical importance of family business succession planning, the Lindsay & District Chamber of Commerce is organizing a seminar with BDO Dunwoody LLP and the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) providing practical advice and material on the topic of succession planning.
A family business succession plan addresses such critical issues as:

• What are my options for transferring the business (transfer to the next generation, sale or wind-down of the business)?
• How do I determine if my adult child (children) "has what it takes" to successfully manage the business?
• What if I can't identify a successor?
• How can I minimize the tax cost of transferring my business?
• What are my estate planning objectives & how do I achieve them?

These seminars will include practical advice on key issues like family dynamics in business and succession; the role of advisors; emotional factors and conflict within the family & business; and preparing a plan.

A component of the seminar will be the analysis and discussion of a detailed case study and real life examples. This will help create an understanding of the challenges families will face as they develop their own succession plan.

HURRY!! Register Today.
Space is LIMITED!!!

How to Register:
Complete the attached registration form or call
Lindsay & District
Chamber of Commerce
at 324-2393.

Session Agenda

• Group exercises based on a family business case
• Integrating the case, the group exercises are followed by a presentation covering the following issues:
• Family business dynamics - what makes family businesses different?
• Building a succession plan
• Estate planning for family business owners
• Retirement planning, and buyout options for the next generation
• Keys to Success - considerations common to successful succession plans

Here's How to Register
Family Business Succession
Planning Seminar

Monday, January 28, 2002
6:30 - 9:30pm
Olympia Restaurant, Lindsay

Cost is $35 per person
Light refreshments and a copy of "Guide To The Family Business" included with registration
Space is limited so please register by Jan. 24 by fax or phone to
Lindsay & District Chamber of Commerce
Tel:(705) 324-2393
Fax:(705) 324-2473

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