Visit www.buentrepreneurship.wordpress.com for more works related to entrepreneurship! Made by students from Bishop's University, Quebec, Canada.

1. Family
Business
Succession
By Tristan Hébert and Charles Tousignant

2. Our idea for family business succession
- We decided to do a plan to help businesses do the
perfect transition possible in a succession situation, in
order to maintain business values and future growth.

3. Why did we choose this subject?
- Involved in family business
- ⅓ of all business owner will retired over the next few
years in Canada.
- Challenge towards business succession
- http://www.pwc.com/gx/en/pwc-family-business-survey/next-
gen/index.jhtml

4. Orange Traffic
http://www.orangetraffic.com/en

5. Issues with family business succession

6. What have we found about the
biggest companies!?
Wal-Mart
Ford Motor Corp
Susuki Motor Corp

7. June 2014
Forbe magazine

8. Ford Motor Corp
Article of May 2014, forbe
magazine
In 2006, Bill ford, son of
the ford dynasty step
down as CEO and let Alan
Mullaly as CEO to shake
the company!

9. Susuki Motor Corp
CEO is 84
years old! 3
decades!
Forbe
magazine
june 2014

10. Video of great business success

11. Why family business is different?
- Can create tension among family members
Example:
-Money
-Power (% ownership)
-Education
-Seniority ***Can you find more?

12. Why plan for business succession?
- Protect the legacy of your business
- Maintain a service for your community
- ****Build value for your business *****
- Provide financial security for your family
- Deal with unexpected events (illness, accident or
death)
- Prepare for the future

13. Build value for your business ?
Here’s a quick video that will introduce you
about building value for your businesses!!
http://valuebuildersystem.com

14. When do you start planning, and how?
- Goals and objectives
- Develop a vision for the business.
- Determine your retirement or post business ownership goals.
- Decision making
- If appropriate, involve family members in the development of the plan.
- Have a conflict resolution mechanism
- Select a successor.

15. Cont’d
- Contingency planning
- Have a contingency plan that includes the financial resources required to ensure the
survival of your business in case of illness, accidents and even death.
- Corporate structure and transfer methods
- Determine your options as a sole proprietor, partner or owner of a corporation.
- Decide whether you wish to transfer or sell the business. Business valuation
- Find out the fair market value of your business.
- Exit strategy
- Establish a timeline for easing your way out of the business.
- Implementation and follow up
- Review and update your plan regularly.

16. Briefly,
The scope of our research:
- Family business succession plan.
Extremely important in order to be succesful

17. What do you guys think?
- Is it important to organize the succession?
- Should we always sell to family member?
- Should we avoid the subject?
- Is business and family a good match?

18. Q and A
Comment and Idea are welcome!
Thanks for listening