CFFB January 21st Workshop Summary
Today our CFFB Workshop focused on How to Build Value into your business and then Realize that Value.
John Mill started the day by sharing his insights on business succession planning through win-win thinking, trust, engagement and leadership. There is value in each of our businesses that is not realized. Following the principles shared by John in his book, “Hire Your Buyer!” will allow you to create this value.
Brian Ogilvie, one of our CFFB Advisors, discussed future planning strategies to consider in the area of incorporation, RRSP’s, capital gains exemption, family trusts & investment holding company. This detailed Brian’s personal creating value story.
Al Mosher completed the day by sharing details about Retirement Compensation Arrangements (RCAs) including entitlement, funding, benefits, tax, succession and the establishment of such an arrangement. One of the key advantages is that the RCA is creditor proof.
What a great morning of reviewing strategic options relating to building and realizing value in your family business.
Dave Schnarr Executive Director, CFFB