Available online, cell or tablet, the tool includes a series of questions to address the main issues of a business transfer, such as the owner’s intentions, succession, business value, transfer financing and underlying tax considerations.
“We’ve always considered succession a major issue for Quebec’s economy and since 2003, we’ve been working in the field, helping business owners plan,” states Éric Dufour, Partner, Regional Vice-President and National Business Transfer Leader. He continues, “It’s based on this expertise and our proximity to the market that we were able to create the diagnosis tool that we’re launching today. We want to provide business owners with a tangible tool that will help them begin strategizing methods to implement a succession plan.”
It takes anywhere from two to eight years to plan a business transfer, and only 9% of business owners have a formal written plan. The diagnosis is the first step in the right direction. Once the questionnaire is completed, the user will receive a diagnosis by email providing details about the business’s strengths and weaknesses, and recommendations for each of the areas analyzed.
The tool is available online now at: http://business-transfer.rcgt.com/.