Vivian ChuiOmineca Express
When an independent professional in a small community is looking to retire, reaching out to a larger establishment may be a beneficial solution for all parties involved.
Aiming to retire by the summer of 2016, Ken Simon from Kenneth B. Simon Corp. has recently joined MNP LLP, a Canadian accounting firm headquartered in Calgary.
“How does one leave from one’s own operated business?” said Simon. “If I’m going to be leaving my business, I want to make sure that my staff has the opportunity to continue their employment with that business, and my clients have continuity.”
He noted that business succession can come from three sources: either an existing staff that can take over the business, or an external individual who has the intent of taking over, or look for an existing entity that have the resources to do so in a shorter period of time.
“With Vanderhoof being a small community,” he added. “Sometimes it can be difficult for individuals from professions to be here and relocate and become a resident of Vanderhoof.”
Simon had arrived in Vanderhoof 31 years ago to establish his accounting office, with the previous 10 years of his career spent in Prince George and Fort St. John.
“Just as I was new to the community at one time, MNP is new to the community, but not to the accounting world,” he said.
Simon noted the vulnerabilities of having an independent office.
“I’m one of three people, if you suddenly miss one person, it’s a big hole to fill,” he said. “MNP can then provide long-term stability for Vanderhoof because they’ll be able to attract personnel to be there and work here.”
Rod Quiring, a MNP partner based out of Prince George that specializes in assurance and aboriginal services, along with senior manager Blair Traxler will be taking over Simon’s clients in Vanderhoof.
Quiring said he is looking to grow the Vanderhoof office in two ways.
“Right now, no one in Vanderhoof does agriculture work, and we have, as part of MNP, agriculture specialists,” he said.
With his existing aboriginal portfolio, he would be targeting the First Nations community as well.
“There’s a huge First Nations presence in the area, so why not service the First Nations of Vanderhoof,” he added.
For MNP, which has opened its Prince George office in January this year, it is an opportunity to expand into the smaller communities in central northern B.C.
“Using Prince George as a hub, we can now expand out,” Quiring said. “I wouldn’t be surprised if we see [MNP] going to Quesnel, and Williams Lake.”