Business

Pilot project opens doors for entrepreneurs

Small business succession is consistently identified as a key issue during small business roundtable consultations in B.C.

Without a succession plan, small business owners can lose return on their investment and leave the communities where they operate without the services and jobs they depend on.

For Island coastal communities, a new pilot project will help keep established businesses and the jobs they create by assisting business owners in passing on their success to aspiring entrepreneurs.

Exit Opportunities, a new small business succession pilot project, will link interested business purchasers to small business owners who are in the process of, or thinking about, exiting their business.

The one-year project is a partnership between the province, Island Coastal Economic Trust and Island Coastal Community Futures, which will deliver the project while serving central and northern Vancouver Island, Powell River, the Sunshine Coast and Howe Sound.

The project will include training and services related to purchasing an existing business and would link Self Employment Program participants to small business owners who wish to sell their business.

Other potential purchasers will be offered similar training, and small business owners will be offered support and training to ensure their businesses are transition-ready.

Ron Cantelon,   Parksville-Qualicum MLA said the program prepare new owners with business knowledge so they can effectively apply their energy and enthusiasm to renewing local enterprises.

“When a small business disappears, a part of the community dies with it,” he said. “This program will enable owners to pass the torch to a new, locally-based owner.”

For more information, please go to www.cfac.ca/content/welcome-community-futures.

 

 

 

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

B.C. oil refinery backers move ahead
 
Advocate was ‘voice for voiceless’
 
Sick kids get a visit from Santa at Nanaimo hospital
Local 10-year-old declares the right to a healthy environment
 
Just the Facts: Medical Marijuana in Canada (VIDEO)
 
Speaking for business
Nelson Italian Canadian Society helps out food cupboard
 
Crafty, creative business opens in Penticton Cannery Trade Centre
 
Quarter century of safety

Community Events, December 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Dec 18 edition online now. Browse the archives.