Throughout the life of a business, problems can seemingly "suddenly appear", but were actually foreseeable and preventable. The following are problems that can plague any business and should be kept in the back of your mind for future applicability.
Careful planning with a Chartered Professional Accountant is warranted. Contact Keith Anderson, BCom, CPA, CA-IT, CITP at (780) 447-5830 if you need advice.
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Cash Flow (running out of cash is death to your business)
Over-Dependence on a Single Customer or Supplier (diversification is key)
Management Succession (how do you turn control of your business over to someone else?)
Family Succession (what happens when the children want to take over the business?)
Financial Difficulty (key indicators your business has financial problems)