Name the decision-makers
01 / Authority
Document who can approve payments, run payroll, access banking and make operational decisions. Put emergency signing and access arrangements in place.
Business Continuity & Succession · Ottawa
Keep the business moving when leadership changes.
Prepare for an unexpected absence as well as a planned exit. A continuity plan keeps decisions and daily work moving; a succession plan prepares the transfer of leadership and ownership.
Reduce owner dependence
Could the business run without you tomorrow?
Start with the work, relationships and authority that depend on one person. These three areas reveal where a sudden absence could stop operations.
Make the work transferable
02 / Knowledge
Record essential processes and secure system access. Keep financial records current and ensure another qualified person can perform critical or licensed work.
Prepare the next leaders
03 / People
Share customer and supplier relationships, delegate responsibilities and train backup leaders. Decide how employees, family, lenders and customers will be informed.
Prepare for both timelines
A planned exit and an emergency need different funding.
For a planned transition
Choose a path: transfer to family, sell to management or employees, sell to partners or an outside buyer, or wind down. Prepare the successor, reliable records and a supportable valuation before the handover.
Funding may combine buyer equity, bank or vendor financing, corporate cash, gradual purchases, earn-outs or asset sales. Check that the payment terms support both the business and your income needs.
Explore the succession pathsFor an unexpected departure
Death, disability, illness or a key leader’s departure may create an immediate cash need. Suitable insurance can help fund a covered event through key-person protection, buy-sell funding, corporate life insurance or debt protection.
Insurance does not fund voluntary retirement or every transition. It also does not replace legal agreements, tax planning, valuation or operational preparation.
Explore buy-sell fundingConnect the exit to your personal financial plan
Compare the expected proceeds with retirement-income needs, savings, investments and estate goals. Account for personal guarantees, debt and the risk of a buyer paying over several years. Test whether a lower sale price would still support your plans.
Coordinate the funding with the legal structure
Your lawyer, accountant, valuator and lender should review the transaction within their respective areas. Align ownership agreements, insurance beneficiaries, financing and the communication plan with the intended handover.
Explore corporate insuranceQuestions before you decide
Look closely at the details.
When should succession planning begin?
Planning should begin well before the desired exit. Preparing successors, improving records, reducing owner-dependence and arranging financing can take years.
Is a will enough to transfer my business?
A will may address ownership after death but does not replace shareholder agreements, leadership plans, business valuation, funding or operational continuity.
Does a shareholder agreement solve succession?
It may establish important rules and obligations, but it does not automatically provide funding or prepare someone to operate the business.
How is a business valued?
Valuation may consider assets, liabilities, earnings, cash flow, customer concentration, intellectual property, industry conditions, goodwill and other factors. Use a qualified business valuator.
Review with Centerpointe
Identify what needs to be ready first.
Centerpointe helps connect the transition with your insurance, liquidity and personal financial goals, alongside your legal, accounting, valuation, banking and operational advisors. Review the plan when ownership, business value, debt, leadership, family circumstances or exit timing changes.
Business Continuity & Succession Areas We Serve
Business Continuity & Succession guidance in Ottawa and neighbouring Eastern Ontario communities.
Business continuity and succession planning involves legal, tax, accounting, valuation, financing, operational and insurance considerations.
Centerpointe Financials provides financial and insurance guidance within applicable licensing and does not provide legal, accounting, tax, valuation, banking or management-consulting services.
Insurance products are subject to application, underwriting, eligibility, policy terms and insurer approval. Insurance does not fund every succession event.
Business values, sale proceeds, tax outcomes, financing and transition success are not guaranteed. Clients should obtain independent advice from appropriately qualified professionals.