Succession Ontario – Regional Business Succession Ontario – Regional Business
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Thinking about selling your business, passing it on to family, or closing it? Planning ahead can help you prepare for what's next.

Succession Ontario is a free provincial business transition planning hub offering practical tools, online learning modules, virtual workshops and an online business valuation calculator that uses available industry benchmarks to estimate what your business may be worth.

As part of Succession Ontario, the Regional Business Centre offers free, confidential, one- on-one consultations to help small business owners navigate the steps involved, find relevant resources and connect with local professionals who can provide specialized advice and support. You can visit the Succession Ontario Hub here.

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What Should You Consider when Selling, Transferring or Closing Your Business?

Selling your business, transferring ownership or closing your doors can take time and preparation. There may be financial, legal and operational considerations, along with decisions about timing, the future of your employees and what comes next for you personally.

You may be wondering what your business is worth, how to prepare it for sale, whether a family member or employee could take over, or what is involved in closing your business. You may also need to know which professionals to involve and when to seek their advice.

Starting early gives you more time to work through the details, prepare for the steps ahead and make decisions that are right for you and your business.

Elder business owner making an inventory of her stock.

Free Tools and Resources Built for You

Succession Ontario brings together free resources to help small business owners prepare for a business transition, including:

  • Online learning modules covering different aspects of the business transition and succession planning process that you can complete at your own pace.
  • Practical planning tools and checklists to help you organize financial information, map out next steps and identify the professional support you may need.
  • Information about transition pathways, including selling to another business or individual, transferring ownership to family or employees, and closing your business.
  • An online business valuation calculator that uses available industry benchmarks to help you estimate what your business may be worth.

These resources can help you prepare for conversations with professionals and take the next step when you’re ready. 

How the Regional Business Centre Can Help

The Regional Business Centre offers free, confidential, one on one consultations for local small business owners who are considering a sale, ownership transfer or closure. During a consultation, we can:

  • Discuss your goals and anticipated timeline.
  • Help you navigate the steps involved in your situation.
  • Point you toward relevant Succession Ontario tools and learning resources.
  • Help you identify and connect with local professionals who can provide specialized advice on matters such as business valuation, legal considerations, accounting and ownership transfers.

Our role is to help you find your way through the process, understand where to turn for support and connect with the right resources and professional expertise for your situation. Whether you’re just beginning to consider a change or already preparing to sell, transfer or close your business, we’re here to help.

Ready to talk about what’s next for your business?

Book a Free Consultation
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Ontario Small Business Advisory Centres (OSBAC) services and programs are delivered locally by the Regional Business Centre and funded in partnership with the Government of Ontario.

City of Greater Sudbury
OSBAC Ontario Small Business Advisory Centre
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