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New initiative for western N.S. supports business sellers and buyers

Project is partnership of Western Regional Enterprise Network and SuccessionMatching

The Western Regional Enterprise Network (Western REN) and SXNM SuccessionMatching Ltd. (SXNM) have officially launched a program to help retiring business owners in western Nova Scotia plan for and sell their businesses to other entrepreneurs.

The program will provide cost-effective access to SuccessionMatching.com’s suite of tools and resources, allowing business sellers and buyers to connect with each other, plan for their succession and receive professional advice.

The program was launched April 1 at the Rodd Grand Hotel.

“Business owners may be thinking about succession, or starting the process, but they may not be tapping into available resources for planning support,” said Angélique LeBlanc, chief executive officer of the Western REN. “There is an active business support network from both the public and private sector who are there to help, who have been invited to attend this launch.”

LeBlanc says the other side of the issue for business owners looking to exit is finding buyers. Like many other regions, she says, western Nova Scotia has seen a significant population decline over the years and has an aging population. With young people leaving the region, there aren’t as many opportunities for a family member to take over the business.

“The Western REN has partnered to launch the Succession Matching program in our region in order to increase the likelihood of a sale and successful business transition,” LeBlanc said. “Local businesses will be profiled and promoted to as broad or as narrow an audience as the current owner would like it to be, and the Western REN will continue to support both sellers and potential buyers. This partnership will encourage entrepreneurship, attract investment and create business growth in Nova Scotia.”

Alison Anderson, founder and CEO of SuccessionMatching.com, says small-to-medium-sized businesses are the lifeblood of their communities.

“Not only do we want to see business owners receive a fair return when they sell, but we also want to see new entrepreneurs prosper from the advantages of taking over a successful business,” Anderson said. “We also want to see communities continue to benefit from their services without interruption. We know the key is proper succession planning, which is why we’ve partnered with Western REN to make it easy for entrepreneurs to do just that.”

Over 50 people attended the event announcing the new partnership project.

For details about the program contact:
Matthew Trask at [email protected] or 902-749-8270.

Background:

SuccessionMatching.com is a website where business buyers and sellers can connect with each other and with succession planning professionals. SXNM’s mission is to ensure farms and businesses in communities across North America continue to operate for generations to come. They provide the assistance required for successful ownership transitions that benefit all parties involved. For more information, email [email protected].

The Western Regional Enterprise Network is a partnership between the province and the municipalities and towns of Yarmouth and Digby counties, as well as the Municipality of Barrington. Their purpose is to guide and navigate regional economic development while supporting business growth in communities by providing confidential business navigation services. For more information, email [email protected].

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