Business Ownership Guide Your guide to starting, running, and expanding your business! Mitigating Risk! And other resources available for you!

Disclaimer Presentations are intended for educational purposes only and do not replace independent professional judgment. Statements and opinions expressed are those of the speaker and participants individually and, unless expressly stated to the contrary, are not the opinion or position of the Advisor. The information contained herein has been prepared to assist prospective business owners in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information a prospective or existing client may desire. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in this information. We make no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral communications transmitted to the recipients in the course of this presentation.

Structure Taxes Responsible for Partners Unlimited Liability Defer Tax Sole Proprietors & Partnerships Limited Partnership & Incorporated Taxes Responsible for Partners Unlimited Liability Defer Tax Segregation if set up right Limited Liability

Work from home vs Office Potentially reduce overhead Requires Motivation & Discipline Are you prepared? Room for resources? By-law requirements? Aware of health, safety & tax regulations? Increased Overhead Costs Go up Coworkers/Employees Supplies

Incorporation Equity financing Income control Income splitting Small business tax deduction (possibly) Increase in costs Less tax flexibility Comes with a cost

Funds Invest retained earnings Permanent Life Insurance Policies L.O.C Family & Friends Crowdfunding Working capital advance Factoring Private Equity Investors Bridge Financing Equipment financing & leasing

Liability Partners Debt Sickness Disability Retirement Buy-Sell agreements Segregated Funds Critical Illness & LTC Insurance Group Benefits Business Overhead Expense Insurance Health Spending Accounts (HSA) Group Retirement Individual Pension Plan Personal H&D Plan

Succession Planning Part 1 Build Value for your business There’s always decisions Training Estate Planning Contingency Planning Why should you start now? Protect your Legacy Can be forced Funding mechanisms Involve family if appropriate Conflict resolution Successor

Succession Planning Part 2 Transfer to a family member Identify candidate(s) Discuss the plan Make arrangements for the transfer/sale Sell to a partner, management team, or employee Someone who knows the business, and is interested in seeing it continue Sell to a third party Due diligence. Find a buyer, finalize the sale

Remember, we are not the “bad guys,” we are here to help YOU SUCCEED! Contact your key advisors such as Accountant, Financial Advisor and Lawyer when developing your succession plan.  Keep us up to date, and current on your situation Set regular appointments Make adjustments to your plan when required (it’s a living, breathing organism) Follow up regularly! Remember, we are not the “bad guys,” we are here to help YOU SUCCEED!

Implementation & Follow up REVIEW REGULARLY 1x yearly as a BARE minimum Insurances up to date? Too little? Too much? Properly funded? Investments on track? “Key people” living up to obligations