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succession – XtremeCuztoms

Tag: succession

More Than 40% of Farm Operators to Retire by 2033: Report

April 10, 2023
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A new report says more than 40 per cent of farm operators will retire over the next decade, leaving Canada with a shortage. The report from the Royal Bank of Canada, Boston Consulting Group Centre for Canada’s Future and Arrell Food Institute at the University of Guelph says the country will be short 24,000 general…

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5 Reasons Your Children Should Not Inherit Your Business

April 8, 2023
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By Daniel Scott There are some astounding statistics surrounding family business succession. First, the average lifespan of a family-owned business is only 24 years, or roughly one generation. In addition, nearly 60 percent of family-owned businesses fail to make it to the second generation, while nearly 90 percent fail to make it to the third…

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