In a recently published article by Kate McCaffey providing insights to KPMG’s Private Enterprise Business Survey – 73% of respondents stated they expected to transition their businesses to new leadership within 3-5 years.  While 69% intended to sell to a third party, although 72% of the respondents felt that employee ownership trusts (EOTs) with a capital gains exemption for owners could have a positive impact on the Canadian economy.  However – 28% of the respondents strongly agreed they will simply close up shop and walk away from their businesses in the next three to five years.

Read the full article Tax pressures, shifting landscape forcing more family businesses to change hands at the Insurance Portal

– Rick