Are Small Business Owners Closing Up Shop on their Retirement?



    BMO hosts seminars to show small business owners how they can maximize
    surplus cash and save for retirement

    TORONTO, Feb. 1 /CNW/ -

    
    WHAT:  According to the Canadian Federation of Independent Business,
           70 per cent of Canadian small business owners will retire within
           the next decade. And with many of them primarily depending on the
           equity in their business to fund their retirement, they could be
           unwittingly heading into the next phase of their lives financially
           unprepared.

    WHY:   By solely relying on their business equity, small business owners
           are doing themselves a disservice. Their lack of investment
           diversification could rob them of their retirement nest egg if
           something were to impact their business negatively.

    WHO:   BMO Financial Group is hosting seminars across the country to show
           small business owners how they can maximize surplus cash and
           ultimately plan and save for retirement. The seminars cover
           options for owners when it comes to surplus cash, including paying
           down debt, purchasing fixed assets and investing. Contingency
           planning and the importance of maintaining liquidity will also be
           discussed as well as short and long-term planning to reach
           business and personal goals, such as retirement.

           BMO Financial Group's local business and financial planning
           experts are available to discuss:
           -  Leveraging your business success for personal gain
           -  Key hurdles small business owners face when managing personal
              finances
           -  Options for managing surplus cash flow
           -  Investing tips for business owners and the role of RSPs
           -  Strategies for managing risk when it comes to investing and
              market volatility
           -  Advice for entrepreneurs who want to plan a graceful exit from
              their business
    





For further information:

For further information: To arrange an interview, contact: JoAnne Hayes,
Toronto, joanne.hayes@bmo.com, (416) 867-3996; Lucie Gosselin, Montreal,
lucie.gosselin@bmo.com, (514) 877-1101; Laurie Grant, Vancouver,
laurie.grant@bmo.com, (604) 665-7596; Internet: www.bmo.com


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