Canadian Plastics

Small Business Owners Not Protecting Assets, Says Survey

More than 50 percent of small business owners have borrowed funds to finance a business, yet most haven't taken sufficient measures to safeguard their personal assets from creditors in the event of a ...

October 1, 1999   Canadian Plastics



More than 50 percent of small business owners have borrowed funds to finance a business, yet most haven’t taken sufficient measures to safeguard their personal assets from creditors in the event of a lawsuit or bankruptcy, according to a recent national survey.

The survey, conducted by Environics Communications for Trimark Investments, revealed that 40 percent of small Canadian business entrepreneurs are relying on the incorporation of their business to protect personal assets, while one-third have no protection at all for their assets.

The study found segregated mutual funds to be the least understood method for entrepreneurs to reduce risk to personal assets. Segregated funds can be used to help insulate the assets of business entrepreneurs, company officers and directors from personal liability claims. For more information on the study call Kim Race at Environics, 416/920-9000, ext. 255.


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