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Cautionary tale on business sales

When it comes to selling a business, Canadian entrepreneurs have a word of advice for their peers: do as I say, not as I did.

In a Newport Partners survey of more than 100 Canadian business sellers, fewer than half the respondents said they had evaluated all types of potential buyers, and only one-third obtained an independent valuation, but nearly three-quarters would advise other entrepreneurs to do so. Similarly, while 62% recommend methodically pre-planning the sale of a business two to three years in advance, fewer than one-quarter actually did so themselves.

"Few took proactive steps to maximize their company's sale ...

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