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Want to prepare your succession?
CFDCs and CBDCs manage many projects involving business succession, which is a real challenge facing small- and medium-sized businesses, and an immediate problem, keeping in mind that a successful transfer can take several years. This challenge is even more pressing in the regions, where the loss of businesses is a major threat to community survival.

A fund devoted to succession

CFDCs and CBDCs can count on the Business Succession Fund, which facilitates access to venture capital in communities, supporting transfers of ownership of existing businesses. The fund now stands at $24 million. Details >>>

 

Examples of innovative succession initiatives

Several CFDCs and CBDCs have developed projects tailored to business transfers. For example:

  • The CAE Montmagny l'Islet conducted a survey and prepared a guide on succession and then implemented an Info-succession phone line;
  • The SADC région de Mégantic organized a workshop on different aspects involved in business transfers and offers guidance and accompaniment services;
The SADC Bellechasse-Etchemins prepared a succession guide called Guide sur la  relève.
 

In June 2005, the Canadian Federation of Independent Business estimated that more than 40% of Québec's small and medium-sized business owners would retire by 2010 and some 70% by 2015.


There is therefore an "emergency in the house"! It seems apparent that succession should be encouraged, not only through conventional means such as the financing of business transfers, but also through different more innovative projects.

Useful links:

Portail sur la relève des entreprises - in french only

Transition planning with the BDC

Canada Economic Development offers a financial support to the CFDCs and CBDCs