Growing up in a family business, and starting and running several of my own over the years has been a great learning experience. I intimately know how hard being a business owner can be. The ups and downs, the cash flow issues, market cycles, partnership issues, litigation issues, taxes, receivables, even labour issues can all seem insurmountable at times.
On the other side, when things do go well, properly planning to extract wealth, protect your assets and your key people is critical. Buy sell arrangements, setting up health benefit programs and pension or group RRSP accounts may be a step you are currently reviewing.