BMO Financial Group Releases Book on Succession Planning:
'The Transition Experience: What Every Canadian Family Business Owner Should Know Beyond Succession Planning'
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/16/12 --
BMO Financial Group's James Wong, Vice President of Succession Planning, has co-authored a new book, The Transition Experience: What every Canadian family business owner should know beyond succession planning. The book offers readers an insider's look at the challenges of passing on ownership and control of a family business.
Co-authored by Mr. Wong and Sarah Kruger, the book presents first-hand accounts of multi-generational business owners and the challenges they face, including families undergoing the transition of their businesses for the first time.
"Succession planning should be a priority for every business owner as it touches a variety of individuals, including business owners, employees, business, lenders, current family members and future generations," said Mr. Wong. "Creating a succession plan can also help realize the maximum potential value of a business while mitigating risks associated with economic uncertainty or a sudden shift in management."
Mr. Wong added that it is easy to be intimidated by the succession planning process; it is sometimes difficult to know where to start as the planning process can be complex. He expressed the hope that his book would provide guidance and motivation to those that need it.
"A BMO study revealed that 85 per cent of Canadian small business owners do not have a succession plan in place," said Cathy Pin, Vice President, Commercial Banking, BMO Bank of Montreal. "Given that these entrepreneurs account for almost 97 per cent of all employers in the country, this can have major implications for the Canadian economy. The good news is that financial advice and expertise is available, and a smooth transition is achievable when a well thought-out succession plan is developed and followed over a period of time."
Here is what people are saying about The Transition Experience: What every Canadian family business owner should know beyond succession planning:
Mr. Wong will embark on a cross-Canada book tour this Spring and Summer. He is available for interviews to discuss issues related to succession planning, including:
To order your free copy of The Transition Experience, please visit: .
About the Author
James Wong joined BMO Harris Private Banking in June 2000 specifically to launch succession planning services. Since then, he has assisted many families with their business succession and has gained a valuable appreciation of the many challenges families face with businesses including preserving family values in a highly performance-driven business environment.
In his work, he has developed several best practices that take into account the unique culture of Canadian family businesses. Many of these practices are shared the book he has co-authored The Transition Experience - What every Canadian family business owner should know beyond succession planning.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media contacts:
Rachael McKay, Toronto
416-867-3996
Sarah Bensadoun, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596
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Datum: 16.03.2012 - 10:00 Uhr
Sprache: Deutsch
News-ID 125509
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Town:
TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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