% have discussed plans with accountant/lawyer, Family, Executor, % of family wealth tied to the value of the dealership, % have a will, % have power of attorney in place, % understand the cash consequences to their estate if they were to pass away, % own their land and buildings

% of managers indicate that the owner has communicated their succession planning to them

What would help your business better comply with regulations, How has the overall burden of regulations on your business changed during the past three years? Most useful BRM programs in Ontario

What type of impact would the unionization of farm workers have on your agri-business? What are your overall plans for your agri-business during the next 3 years? (Expand business. Maintain current status, Adopt value added initiatives, Diversify into other commodities, Downsize, Specialize, Transfer business to a non-family member)

Approximately when do you plan to exit (sell, transfer, wind-down) your business? Do you have a business succession plan to sell, transfer, or wind down your current business in the future? Main barriers to succession planning

% admit they are likely to experience a shortage of executives within their organization over the course of the next five to 10 years, % acknowledge that finding candidates that are a good cultural fit for their organization is one of their top three criteria, % say they have no succession plan in place

% agree The business would benefit from the perspective of new management, The business’ growth has been limited by a lack of management depth, The owner(s) has expressed concern about the overall sustainability of the business after he/she has sold or transferred ownership, The business needs a new strategic direction to maintain competitive advantage and maximize shareholder value

FAMILY BUSINESS succession plans - % agree the identified successors are ready to take on the challenge of running the business, readiness steps taken by potential successors, Are there are clear plans as to how family members outside the business will share in profits, as compared to family members working in the business? Are there mechanisms in place to communicate with family members not involved in day-to-day operations of the business?

Has the owner(s) implemented a formal tax strategy to minimize the potential liability of income tax upon death? Business continuity plans have been made in case of loss of life of the owner(s) involved in day-to-day operations