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Succession Planning Not a Priority for Business Owners

“Some 89 per cent of small business owners surveyed in Metro Vancouver and Victoria say they do not have a succession plan for their business. The survey was initiated by Vancity and conducted by Insights West to identify and assess the needs of small business owners. The results confirm small business owners are focused on day-to-day operations. However, taking time out to plan for the future of the company is not a priority. Business owners spend their lives building their business. Without a succession plan in place, their families, suppliers, employees and customers could be financially impacted.”

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