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September 1, 2018

In recent decades, rapid advancements in technology, changes in the economy and shifting societal trends have had a large impact on many Canadian businesses and industries. These types of changes contribute to both the entry and exit of thousands of businesses within the marketplace each year in Canada.

In this special edition of Perspectives, we focus on relevant topics and information to help business owners throughout the entire life cycle of a business, from start-up and growth all the way to developing an exit strategy and succession, recognizing that strategic planning at every phase can go a long way in helping to achieve business goals, adapt to change and build towards sustainable success.

When it comes to growing a successful business, we explore the potential behind the integration of credit and the possible benefits of leasing when investing in new business equipment. And for business owners thinking about how to build and preserve their workforce, especially amidst shifts in the labour force and the growth of temporary or freelance work, “Employee loyalty: Attracting and retaining top talent,” provides an overview of potential options.

With recent research indicating that approximately 40 percent of Canadian entrepreneurs are likely to exit their business within the next five years, succession is a growing focus for many. In “Keeping it in the family: managing conflict through planning,” we examine intergenerational business succession and strategies to help ensure a smooth process. In “Your business exit strategy,” we discuss the various options for transitioning out of a business and considerations in choosing and planning for each. Additionally, for business owners who may opt to sell their business, this edition features articles on business valuation and planning for a tax-efficient transition.

For all business owners, planning for the unexpected and safeguarding a business are important aspects as well, and this edition includes discussions on key person insurance, shareholders’ agreements and estate planning that takes your business interests into account.

Whether you’re a newer entrepreneur or you’re a longtime owner with retirement on the horizon, I encourage you to contact your RBC Wealth Management advisor about the topics featured in this issue and to explore ways to address your business, family and personal wealth management needs and goals.


David Agnew, CEO
RBC Wealth Management Canada


This document has been prepared for use by the RBC Wealth Management member companies, RBC Dominion Securities Inc.*, RBC Phillips, Hager & North Investment Counsel Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company (collectively, the “Companies”) and their affiliate, Royal Mutual Funds Inc. (RMFI). *Member – Canada Investor Protection Fund. Each of the Companies, RMFI and Royal Bank of Canada are separate corporate entities which are affiliates. “RBC advisor” refers to Private Bankers who are employees of Royal Bank of Canada and licenced representatives of RMFI, Investment Counsellors who are employees of RBC Phillips, Hager & North Investment Counsel Inc. and the private client division of RBC Global Asset Management Inc., Senior Trust Advisors and Trust Officers who are employees of The Royal Trust Company or Royal Trust Corporation of Canada, or Investment Advisors who are employees of RBC Dominion Securities Inc. In Quebec, financial planning services are provided by RMFI which is licenced as a financial services firm in that province. In the rest of Canada, financial planning services are available through RMFI, Royal Trust Corporation of Canada, The Royal Trust Company, or RBC Dominion Securities Inc. Estate and trust services are provided by Royal Trust Corporation of Canada and The Royal Trust Company. If specific products or services are not offered by one of the Companies, clients may request a referral to another RBC partner. The strategies, advice and technical content in this publication are provided for the general guidance and benefit of our clients, based on information believed to be accurate and complete, but neither the Companies, RMFI, nor Royal Bank of Canada, nor any of its affiliates nor any other person can guarantee accuracy or completeness. This publication is not intended as nor does it constitute tax or legal advice. Readers should consult a qualified legal, tax or other professional advisor when planning to implement a strategy. This will ensure that their individual circumstances have been considered properly and that action is taken on the latest available information. Interest rates, market conditions, tax rules, and other investment factors are subject to change. This information is not investment advice and should only be used in conjunction with a discussion with your RBC advisor. None of the Companies, RMFI, Royal Bank of Canada nor any of its affiliates nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of this report or the information contained herein. In certain branch locations, one or more of the Companies may carry on business from premises shared with other Royal Bank of Canada affiliates. Notwithstanding this fact, each of the Companies is a separate business and personal information and confidential information relating to client accounts can only be disclosed to other RBC affiliates if required to service your needs, by law or with your consent. Under the RBC Code of Conduct, RBC Privacy Principles and RBC Conflict of Interest Policy confidential information may not be shared between RBC affiliates without a valid reason. 

® / TM Trademark(s) of Royal Bank of Canada. RBC Wealth Management is a registered trademark of Royal Bank of Canada. Used under licence. © 2018 Royal Bank of Canada. All rights reserved. Printed in Canada.

In Quebec, financial planning services are provided by RBC Wealth Management Financial Services Inc. which is licensed as a financial services firm in that province. In the rest of Canada, financial planning services are available through RBC Dominion Securities Inc.


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