{"id":7125,"date":"2021-10-22T07:33:45","date_gmt":"2021-10-22T12:33:45","guid":{"rendered":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/dominion-securities\/video\/5-key-questions-every-business-owner-should-answer\/"},"modified":"2023-11-01T10:45:38","modified_gmt":"2023-11-01T14:45:38","slug":"video-5-key-questions-every-business-owner-should-answer","status":"publish","type":"page","link":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/dominion-securities\/video\/5-key-questions-every-business-owner-should-answer","title":{"rendered":"5 key questions every business owner should answer"},"content":{"rendered":"\n<div class=\"wp-block-rbcwm-hero-block rbc-hero-wm  rbc-hero-overlap rbc-hero-overlap-mobile\"><div class=\"container\"><div class=\"row no-gutters\"><div class=\"col-lg-12\"><div class=\"rbc-card rbc-hero-card rbc-hero\"><div class=\"rbc-card-wrap\"><div class=\"rbc-card-body\"><div class=\"rbc-hero-body-content\"><h1 class=\"rbc-hero-title\"><span>5 key questions every business owner should answer<\/span><\/h1>\n<p class=\"is-style-hero-subtitle\"><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<section class=\"wp-block-rbcwm-rbc-block rbc-block rbc-block-grey has-block-grey-background-color has-background\"><div class=\"container\"><div class=\"row \"><div class=\"col-lg-12\">\n<div class=\"row wrap blockId-07e991f8-321f-40e0-9c08-1a6b2025f291\">\n<div class=\"wp-block-rbcwm-column col-lg-8\">\n<p class=\"is-style-intro\">Asking yourself the following five questions can help you get started.<\/p>\n\n\n\t\t<!-- Start of Brightcove Player -->\n\t\t\t\t\t\t<div style=\"display: block; position: relative; min-width: 0px; max-width: 690px;\">\n\t\t\t\t\t<div style=\"padding-top: 56%; \">\n\t\t\t\t\t\t<video-js\n\t\t\t\t\t\t\t\tid=\"6090696143001\"\n\t\t\t\t\t\t\t\tdata-video-id=\"6090696143001\" data-account=\"3187797751001\"\n\t\t\t\t\t\t\t\tdata-player=\"VBE5DE1mC\"\n\t\t\t\t\t\t\t\tdata-usage=\"cms:WordPress:6.9.4:2.8.8:javascript\"\n\t\t\t\t\t\t\t\tdata-embed=\"default\" class=\"video-js\"\n\t\t\t\t\t\t\t\tdata-application-id=\"\"\n\t\t\t\t\t\t\t\tcontrols   \t\t\t\t\t\t\t\tstyle=\"width: 100%; height: 100%; position: absolute; top: 0; bottom: 0; right: 0; left: 0;\">\n\t\t\t\t\t\t<\/video-js>\n\n\t\t\t\t\t\t<script src=\"https:\/\/players.brightcove.net\/3187797751001\/VBE5DE1mC_default\/index.min.js\"><\/script> \t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<!-- End of Brightcove Player -->\n\t\t<\/div>\n\n\n\n<div class=\"wp-block-rbcwm-column col-lg-8 mt-3\">\n<div class=\"wp-block-rbcwm-expandable-block rbc-expandable\">\n<div id=\"afb\" class=\"wp-block-rbcwm-expandable-block-title rbc-expandable-trigger rbc-expandable-arrow-wrap\"><button aria-expanded=\"false\" aria-controls=\"afb-content\" data-target=\"afb-content\" data-duration=\"400\" class=\"rbc-expandable-trigger-button\">\n<h3 class=\"wp-block-heading h4\" id=\"h-\"><\/h3>\n<span class=\"rbc-display\" data-open-text=\"View transcript\" data-close-text=\"View transcript\">View transcript<\/span><div class=\"rbc-icon rbc-expandable-arrow rbc-expandable-arrow-right\"><i class=\"rbc-icon-img fal fa-angle-down\"><\/i><\/div><\/button><\/div>\n\n\n\n<div id=\"afb-content\" aria-labelledby=\"afb\" class=\"wp-block-rbcwm-expandable-block-content rbc-expandable-content rbc-expandable-content-inner-style content-afbf822c-1f0a-42eb-9ee8-abbfd3204149\"><div class=\"rbc-expandable-content-body\">\n<p>Canadian business owners work hard and always keep the needs of their business top-of-mind.<\/p>\n\n\n\n<p>But did you know that although 60% of Canadian business owners are over the age of 55, 91% don\u2019t have a formal business succession plan in place?<sup>*<\/sup><\/p>\n\n\n\n<p>It\u2019s important for business owners to start early and think about key issues like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Minimizing taxes;<\/li>\n\n\n\n<li>Strategizing the transition of their business;<\/li>\n\n\n\n<li>Planning for a comfortable retirement; and<\/li>\n\n\n\n<li>Considering how to best transfer wealth to the next generation.<\/li>\n<\/ul>\n\n\n\n<p>Asking yourself the following five questions can help you get started:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>How do you own your business?<\/li>\n\n\n\n<li>Do you know what your business is worth?<\/li>\n\n\n\n<li>What happens if there\u2019s an unexpected tragedy?<\/li>\n\n\n\n<li>Have you considered your exit options?<\/li>\n\n\n\n<li>And what does retirement look like?<\/li>\n<\/ol>\n\n\n\n<p>Working through these five key questions with your team of advisors will help ensure you cover off all the key details when it comes to building an effective business owner plan.<\/p>\n\n\n\n<p class=\"is-style-disclaimer\"><sup>*<\/sup>Statistics source: Canadian Federation of Independent Business, November 2012 report. Updated report and statistics (2018) available here:&nbsp;<a href=\"https:\/\/www.cfib-fcei.ca\/sites\/default\/files\/2018-11\/Getting-the-transition-right-succession-planning-report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.cfib-fcei.ca\/sites\/default\/files\/2018-11\/Getting-the-transition-right-succession-planning-report.pdf<\/a>.<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/section>\n\n\n\n<section class=\"wp-block-rbcwm-rbc-block rbc-block rbc-footer-footnotes rbc-block-small  rbc-block-grey\"><div class=\"container\"><div class=\"row \"><div class=\"col-lg-12\">\n<div class=\"wp-block-group wrap caption row is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-rbcwm-columns container\"><div class=\"row wrap blockId-f762aa26-0dac-45d2-a8c2-23f416ed2683\">\n<div class=\"wp-block-rbcwm-column col-lg-12 wrap\">\n<ul class=\"list-inline wp-block-list\">\n<li>Regulated by:<\/li>\n\n\n\n<li><a href=\"https:\/\/www.cipf.ca\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"96\" class=\"wp-image-2359\" src=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/cipf-member-logo-en.png\" style=\"width:80%\" alt=\"\"><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.ciro.ca\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" class=\"wp-image-2361\" style=\"width: 382px;\" src=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/ciro-logo-en.png\" alt=\"\"><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":50,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"editor_notices":[],"rbc_url_alias":"dominion-securities\/video\/5-key-questions-every-business-owner-should-answer","footnotes":""},"rbcwm_content_owner":[],"class_list":["post-7125","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>5 key questions every business owner should answer - RBC Wealth Management<\/title>\n<meta name=\"description\" content=\"5 key questions every business owner should answer Asking yourself the following five questions can help you get started. 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