The CSF is proud to contribute to the success of Quebec businesses
Publication of the guide Le transfert d’entreprise by FSA ULaval
Montreal, May 8th, 2023 - The CSF welcomes the publication of the reference guide Le transfert d’entreprise by the Chaire IG Gestion de patrimoine en planification financière of the Faculté des sciences de l’administration de l’Université Laval (FSA ULaval).
Quebec is currently experiencing a significant period of business transfers, and the CSF is concerned that many Quebec entrepreneurs are still neglecting to prepare for the transfer of their business, at the risk of having to close their SME. According to recent statistics, 70% of owners will fail in their business transfer project.
Financial advisors can help to combat this problem, which is why the CSF wanted to join forces with the team led by Gabriel Power, holder of the IG Wealth Management Chair in Financial Planning at the FSA ULaval, and collaborate in the preparation of this reference tool aimed at professionals and specialists who interact with sellers and buyers.
“With this guide, those involved in a business transfer will have a better understanding of their roles and responsibilities. CSF members - and financial planners in particular - can play an important role in combating the “spectre of closure” feared by the Centre de transfert d’entreprise du Québec (CTEQ). They are well positioned to educate their clients on this aspect of business management and help them plan for the transition,” said Marie Elaine Farley, president of the CSF.
Let us recall that in 2021, a CTEQ study warned that an additional 2,200 businesses in Quebec could close their doors prematurely by 2031. This “specter of closure” would reduce the total annual turnover of Quebec businesses by $20.1 billion and cost 84,000 direct jobs.
The CSF’s file on business transfers can be consulted on its website.