Selling a private family-owned business is an exciting and a trying business. The challenge to transition a family business or wealth created from it to the next generation is significant. As Forbes states “Less than one third of family businesses survive the transition from first to second generation ownership. Another 50% don’t survive the transition from second to third generation.”
Approximately 80% of all businesses in Canada are family-owned. Family-owned businesses are responsible for about 60% of Canada’s GDP per year. In the United States, family businesses generate over 50% of the US Gross National Product (GNP). Therefore you are likely working for a family business or you are in the family business! Hampton Securities advises and guides entrepreneurs on building their businesses, assisting in their financing needs and counselling owners through the exit strategies. This can include generational wealth transfer, estate planning, business valuations and financing.