Photo courtesy of Community Futures Peterborough.
Community Futures Peterborough, in partnership with the Business Development Bank of Canada (BDC), is inviting regional business owners and aspiring business buyers to take the first step toward successful business transition planning through the launch of the SOAR Succession and Valuation Series.
The series kicks off with a free breakfast event on Tuesday, November 24 at the Peterborough Golf & Country Club, bringing together business owners, succession experts, professional advisors and entrepreneurs interested in acquiring existing businesses.
As thousands of business owners across Ontario approach retirement age, succession planning has become one of the most important conversations facing the business community. Community Futures says that many owners wait too long to begin the process.
“One of the biggest misconceptions about selling a business is that planning begins when you’re ready to exit,” said Devon Girard, Executive Director of Community Futures Peterborough. “The reality is that successful transitions often begin three or more years before a sale takes place. Through the SOAR Series, we want to give business owners the knowledge and resources they need to maximize business value, prepare the next generation of leadership and create a successful transition strategy.”
The kickoff event will feature a fireside chat with Jillian and Ian Scates of Central Smith Creamery, who will share insights from their own business transition journey. Attendees will also hear from an expert panel featuring Michael Riseley & Matt Holmes (Holmes Riseley CPAs and Tax Advisors), Nicole Truman (Fox Law), and Jody Burnie (BDC), covering valuation, legal considerations, financing, and succession best practices.
“Nearly one in five Canadian businesses will change hands within the next five years. These transitions are critical to preserving jobs, keeping strong businesses rooted in their communities and creating opportunities for a new generation of entrepreneurs. The SOAR Series is part of a broader initiative between Community Futures and BDC that combines trusted local relationships with BDC’s financing and advisory expertise to help business owners rise to the various challenges that they face, including business transfers. It’s fully aligned with our role as a development bank,” said Adil Hassam, Vice President and Head of Community Banking at BDC.
During the event, attendees will also receive information about follow-up succession planning workshops taking place in January through the ongoing partnership between Community Futures Peterborough and BDC.
Seats for the free kickoff event are limited. Priority registration will be given to local business owners who are interested in learning more about valuation and succession advisory services, as well as individuals exploring business acquisition opportunities.
Register for free: https://www.eventbrite.com/e/2003916365794?aff=oddtdtcreator
