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Calgary

Tips for buying another business

tips for buying another business

Business owners have many different reasons for wanting to buy another business.  Some owners want to grow by acquisition.  Other business owners want to diversify.  Regardless of the reason, all business owners have the same overall goal which is to increase revenue and strengthen the financial health of their business holdings.  Buying an additional business…

How to thrive when others fail

How to thrive when others fail

A recent article in the Calgary Herald outlined some of the frustrations and challenges affecting business owners in the city’s various destination districts.  According to the article, destination districts in Calgary have increasing vacancy rates.  The article surmises that business closures are the result of a variety of factors including a weak Canadian dollar, the…

Is your business ready for a new owner?

Is your business ready for a new owner

One third of small businesses in Canada will change hands in the next three to five years.  Even if you are not planning on selling anytime soon, now is the time to get your business ready for a new owner.  Life happens.  Plans change.  A business that is prepared to sell is more likely to…

How long it really takes to sell a business

How long it really takes to sell a business

One of the aspects of selling a business that surprises almost all owners is how long the process takes.  On average, it takes nine months for a business to sell and only a small percentage of businesses are successfully sold.  Many business owners assume the process will be much shorter and often underestimate the amount…