The Problem Traditional third-party sales only offer Founders a single option: extracting their money for retirement. While this may seem like a clear-cut solution, it introduces significant risks. The company’s culture, its people, and the legacy that the Founder has worked to build are all at stake. In addition, the complexities of mergers and...
How Changing Who Owns the Business Can Change Everything Selling your business is one of the biggest decisions you will ever make—but traditional exit strategies can leave owners feeling stuck. What happens to your employees? Your customers? Your legacy? In this powerful TEDx talk, our founder Jennifer explores a growing alternative: employee...
In times of economic uncertainty, when businesses face financial pressures and the future feels unpredictable, employee-owned companies tend to outperform their counterparts. And as the potential for a Canada-US tariff battle looms, employee-owned businesses could be the key to weathering the storm. Employee-Owned Companies: A Resilient Business...
It's been just over six months since Canada introduced Employee Ownership Trust Legislation. This video provides a brief overview of EOTs and a glimpse into what we have learned so far! Looking for more information on EOTs? Click here.
The Canadian Economic landscape is changing with 76% of small businesses due to retire in the next decade, leaving over $2 trillion dollars of business assets at stake (CFIB). With this ‘Silver Tsunami’ rapidly approaching, Founders may be left scrambling for options to sell their business. The Problem A third party sale only offers Founders one...
Below you will find a list of frequently asked questions, to help you get the answers you need about employee ownership. Question not answered? Reach out, we would be happy to help! Employee Ownership What does the ideal company for employee ownership look like? No two employee owned companies are the same, so there is not an ‘ideal’...
Rethinking Ownership for a Greener Future As more businesses confront the reality of climate change, sustainability can no longer be treated as a side project. Customers are paying attention. So are communities. And perhaps most of all, employees—especially the next generation—are asking hard questions about how companies align their values with...
Just over a year ago, Canada introduced the Employee Ownership Trust (EOT) as a new way for business owners to transition ownership while keeping their companies locally rooted and employee aligned. Since then, interest has grown—but questions remain. Drawing from the UK, where over 2,250 companies have adopted the EOT model since 2014, we are...
Firefly Insights founder featured in Ripple of Change magazine We are excited to share a recent feature in Ripple of Change magazine, where our founder Jennifer Williams discusses the future of business succession through values-driven ownership. In the interview, Jennifer explores how rethinking ownership—through models like Employee Ownership...
Understanding One of the Most Overlooked Disqualifiers for the Lifetime Capital Gains Exemption Many Canadian business owners are familiar with the Lifetime Capital Gains Exemption (LCGE)—a powerful tool that can shield up to $1.25 million of capital gains from tax when selling shares of a qualified small business corporation (QSBC). In some...
Firefly Insights Founder Jennifer Williams was recently a guest on The Cash-Rich Exit Podcast, hosted by Colleen O’Connell-Campbell of RBC Dominion Securities, where she discussed Employee Ownership Transitions. In this three-part series, they explore employee ownership as a powerful exit strategy for business owners — offering an alternative to...
Running a bike shop is more than just a business—it's a community hub, a passion project, and a reflection of your values. But as a business owner, there comes a time when you start thinking about what’s next. Whether you're eyeing retirement, your next venture, or just a slower pace, the question remains: What’s the best way to exit your bike...
As human beings, we naturally seek a sense of purpose. Our identities are shaped by the roles we play—siblings, parents, friends, teammates. Work is no different. For many of us, how we earn a living is more than just a job; it is a big part of who we are. We spend much of our lives working—so it is only fair to expect something meaningful in...
Featured in CanadianSME Business Magazine As thousands of Canadian business owners near retirement, the question of how to exit their business has become more urgent—and more complicated. Traditional sales and third-party takeovers often leave employees vulnerable and the legacy of the business uncertain. But there is another way. In our recent...
When planning for the future of your business—whether transitioning ownership or retaining top talent—you might wonder why you should engage an additional advisor if you already have an accountant or lawyer. The answer is simple: specialized guidance helps you build a customized strategy that maximizes long-term success. Think of it like choosing...
You have built a strong team—experienced, committed, and full of deep institutional knowledge. But as you look ahead, one reality is clear: some of your most trusted people are beginning to think about retirement. Their knowledge, leadership, and relationships have helped shape your business—so how do you ensure that legacy is not lost, but...
Client Overview Ripple of Change is a social purpose publication that is designed to pair stories with actions. It offers curated stories of people making change in their communities, educational tools, and like-minded organizations with which you can engage. Challenge The publication was primarily led by a co-founder who, as the driving force...
When it comes to business transitions—especially Employee Ownership transitions—most people focus on legal structures, financial models, or tax considerations. But the real test comes after the deal is done. Once the ownership transition paperwork is signed and the dust settles, the hard work truly begins: managing change. For many organizations,...
The business stays in the family—there is no question about that. But making it work for the long haul? That is where things get tricky. Generational transitions can be bumpy, and the stats are not in your favor. There is a better way. By combining Family Transitions with Employee Ownership, you can secure your legacy, set the next generation up...
Jennifer Williams, founder of Firefly Insights, was recently featured in Canadian Family Offices in an article addressing one of the most pressing challenges facing business owners today: succession without a clear heir. The article, “At a succession dead end? Feds offer tax help for family businesses with no heir,” explores how new federal tax...
Jennifer Williams, Founder of Firefly Insights, sat down with Shelagh Cummins on The Road to Seven Podcast to discuss Employee Ownership as a succession plan option. With recent legislative changes in Canada supporting employee ownership trusts, Jennifer explores how this model not only enhances business performance but also addresses economic...
Client Overview The Red Apron is a beloved local food shop in Ottawa, known for offering high-quality, locally sourced artisanal foods, including baked goods and ready-to-eat meals. The business is celebrated for its dedication to sustainability and community support, with many products coming from small-scale regional producers. As a cornerstone...
Client Overview Cathexis Consulting Inc. is a Toronto-based consulting firm that specializes in program evaluation. As a values driven BCorp, the Cathexis team is committed to operating a socially responsible, progressive business. As Cathexis was coming up on 23 years in business, the owners knew it was time to start succession planning,...