Highlighting Business Succession
Bathurst, Monday, May 27, 2024 - IMAGINE CHALEUR, the Economic Development Service of the Chaleur Regional Service Commission (CRSC), organized the event "Perspectives: Business Transition" on Wednesday, May 22, at the Best Western Plus in Bathurst. In partnership with the Réseau de développement et d’employabilité du Nouveau-Brunswick (RDÉE NB), the initiative aimed to promote business succession to future entrepreneurs in the Chaleur region.
What is a Business Succession?
“Business succession is two pronged. On one hand it is selling a business and on the other, it is taking over an existing business rather than creating one from scratch.” explained Ms. Shirley de Silva, Director of Imagine Chaleur. Taking over someone’s business offers numerous advantages for both entrepreneurs and the economy as a whole. “This approach not only benefits from an already established base but also revitalizes a business by preserving jobs and contributing to the sustainability of the local economic fabric.” she added.
More than ninety people attended the event, which facilitated business relationships between outgoing business owners, growing entrepreneurs, and existing entrepreneurs. Participants had the opportunity to hear inspiring testimonies from successful business successors, interact with business experts, and discover a range of tools and resources available to support them on their journey. “I tip my hat to the event organizers; it allowed me to make great connections and learn more about business succession. I even networked with very nice individuals that seemed interested in my business.” admitted Mr. Hervé Mallet, owner of St-Hubert Express in Bathurst.
Perspective: A New Thematic Series
The "Perspectives: Business Transition" initiative marked the first of a series of thematic seminars that will continue to support and energize the entrepreneurial ecosystem of the Chaleur region. “Perspectives is designed to offer a range of workshops, forums, and targeted training opportunities to help businesses navigate change. The training series is conducted in collaboration with our local partners.” concluded Ms. de Silva.