Most owners of privately-held companies are also the founders. Why? At some point in the past, they had a dream and a desire to own their own business. For many, this required giving up a secure job working for someone else and entering the uncertain and ambiguous realm of an entrepreneur. Although there was a huge risk, they believed in themselves and their dream, and they took the leap. For many, this required using their own savings, as well as putting their house and everything they owned on the line as collateral. This was not an easy decision on their part.
Canadians born between 1979 and 2000 now outnumber baby boomers for the first time in history. The Millennials (or Generation Y) form a distinctive segment of the work force, aged 16 to 37 years old. There are two types of Millennials: those aged 16 to 27 have been called the iGeneration Millennials since they were raised with iPads; while those aged 28 to 37 are called the Net Generation Millennials as they were brought up on the internet.
A “management buyout” is a buzz phrase currently used in many business discussions, and for good reason.
The greatest generation of entrepreneurs in Canadian history will retire within the next 10 to 15 years, and these men and women are looking for a way to exit their companies in a way that meets their needs. Not only do they want to leave with an abundance of retirement funds, they also want to leave a legacy. They want to ensure the business they built and nurtured will thrive and continue to support the employees and enhance the community.
Admittedly, the business of Canada Post has changed dramatically in recent years, which is contributing to the looming postal strike.
Moving away from paper-based communication and transactions has slowed the flow of business to Canada’s Postal Service. As consumers we have seen increased rates and cancelled home delivery as two public facing ways the public corporation has tried to make its business model make sense.