We are pleased to announce the sale of this Mississauga-based Plastic Forming and Manufacturing Company, exclusively brokered and facilitated by Beacon.

In the digital age, it is imperative for a successful business to have a well-functioning website. A website can help increase your sales, improve your brand image, and keep your customers informed about important happenings in your business. All of this will help you maximize the value of your business.

Many business owners believe the act of selling their business is similar to passing the baton in a 400 metre relay: once you’re finished running, you get to relax. In reality, buyers will insist that you stay on for a transition period – anywhere from six months to a few years – during which time you continue to work in your business to help the buyer capitalise on the investment they’re making.

When making the decision to sell or buy a company there are two ways to structure the deal - as an asset or as a share sale (purchase). Each comes with its own pros on cons for both the buyer and the seller, and choosing which one is most appropriate depends entirely on that particular situation. Below we have outlined the major differences between the two as well as some of the pros and cons of each.

“How much is my company worth?” is a question that many business owners would like the answer to, and rightfully so, because the value of a business is one of the key factors that determines your business’ selling price. The most common methods to value a small to medium-sized business are the income approach, market and asset approach, and discounted cash flow (DCF). If the explanations detailed below are overly technical and if there are some terms used that you do not fully understand, check out the blog from last week “Key Financial and Accounting Terms Explained”.

To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you.
This can be easier said than done, especially when, like a PR consultant or plumber, what you are selling is your expertise.
To scale up a knowledge-based business, you first have to figure out how to impart your knowledge to your employees, so that they can deliver the goods. However it can be difficult to condense years of school and on-the-job learning into a few weeks of employee training. The more specialized your knowledge, the harder it is to hand over work to juniors.

Understanding financial and accounting statements can be a confusing and even overwhelming ordeal, and much of this has to do with the litany of financial jargon that seems like a Harvard MBA is needed to understand it. However, we have done the hard work for you by breaking down and explaining some of the key terms that every business owner should be familiar with.

Despite the harsh economic reality of the past few years, business owners in the micro-market are once again beginning to reassess their business growth strategies. Regardless of the industry, every business owner reaches the point when they begin to re-evaluate their business plan and examine avenues by which to grow their company. Networking opportunities exist for everyone in the business world, whether it is in trying to find new a job opportunity, trying to expand your network of clients, or trying to build relationships within your respective industry. Although it may not be the most conventional way of growing your business, we are in a new age of commerce where your network of contacts and clients is critical to the future prosperity of your company.

For the majority of small business owners in Canada, the process of selling your business is a unique experience. Most owners have poured a lifetime of work into building a successful company, giving little time or thought to the development of a succession plan.
In a 2011 TD Waterhouse Business Succession survey, over 75% of Canadian small-to-medium sized business owners surveyed said that they did not have a succession plan in place. Additionally, more than 40% of business owners recently surveyed by the Canadian Federation of Independent Business plan to leave their businesses in the next five years, and more than 70% within the next 10 years.
With the majority of baby boomers moving into their early retirement years, more and more business owners are faced with the reality of developing a succession plan. Succession planning is all about having a clearly defined exit strategy. Regardless of the time frame for the sale of your business, there are a number of important steps you can take to ensure that when the time comes it is a seamless process.