FROM SUCCESS TO SUCCESSION
Facilitating Successful Business Transfer
Facilitating Successful Business Transfer
Mission
The website From Success to Succession offers tools to incumbents as well as to the new generation of managers and owners to help ensure that the business transfer and succession process is carried out successfully. The website has three main objectives:
- Improve understanding of the key issues in the transfer and succession process;
- Identify the relevant contexts that influence this process; and
- Clarify the roles played by each of the actors involved.
Who are we?
From Success to Succession was created by the Chair of Succession and Family Enterprise at HEC Montréal. For this second edition, the website has been fully revamped by Isabelle Le Breton-Miller (full professor, HEC Montréal), Audrey-Anne Cyr (doctoral candidate, HEC Montréal) and Stéphanie Rioux (communications manager, HEC Montréal).
Some Numbers
In Canada, 54% of entrepreneurs are thinking about transferring their business sometime in the next 4 or 5 years.
Only 8% of entrepreneurs at the head of Canadian SMEs develop a formal plan for the succession process.** In the United States, 40% of entrepreneurs develop a formal plan for this process.
In Canada, 46% of company owners believe that the succession process will take no longer than 1 year and 37% believe that it will take about 2 years, but experts at the BDC maintain that it can take up to 10 years.