The Co-operative business advisor can assist you in developing your Transfer Plan. You can also develop it with the assistance of your personal advisers.

Transfer Plan

A transfer plan sets out the WHO, WHAT, WHEN and HOW of the transfer process. You develop it based on:

• your business's objectives up to the date of the transfer;
• your vision of your business's future after the transfer;
• your personal objectives after the transfer; your life plans (parameters of tax and estate management of your assets, new professional, social and recreational activities).

To determine your business's objectives, proceed as you would for any strategic planning process, starting with an assessment of your business's strengths and weaknesses, as well as the issues and challenges of the market(s) in which it operates.

Once done, by drawing inspiration from the standard step-by-step process outlined in this guide, Transferring Your Business to a Co-operative: An Owner's Preparatory Guide , you can create your own schedule of activities.