Smart Money reports 
According to the Canadian Federation of Independent Business,
If there is an unexpected downturn with their business, they may have cash flow problems as well as reduced income.
This may in turn, impact on the sale value and ultimate selling price for their business. This can be further complicated with succession planning for family businesses.
Financial planners recommend diversification in investments.
With running a small business, often funds need to be poured back into the business, so having funds available for investment is often easier said than done.
According to the Canadian Federation of Independent Business,
This is quite alarming, as they are essentially putting all their eggs in one basket.70 per cent of Canadian small business owners will retire within the next decade.
And with many of them primarily depending on the equity in their business to fund their retirement, they could be unwittingly heading into the next phase of their lives financially unprepared.
If there is an unexpected downturn with their business, they may have cash flow problems as well as reduced income.
This may in turn, impact on the sale value and ultimate selling price for their business. This can be further complicated with succession planning for family businesses.
Financial planners recommend diversification in investments.
With running a small business, often funds need to be poured back into the business, so having funds available for investment is often easier said than done.
- Do you have tips for small business owners planning their
retirement?
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