What is the Center for Businesses in Transition?
The Adirondack North Country Center for Businesses in Transition addresses the loss of area businesses by providing matchmaking services with potential buyers, access to planning tools and connection with existing services.
More than 10,000 businesses in the Adirondack North Country are owned by Baby Boomers looking to retire over the next several years in the so-called “silver tsunami.” It is more than likely that most of these business owners do not have a transition plan. Nationally, while more than 1/2 of small business owners expect to retire in the next 10 years, fewer than 15% have an exit plan in place – despite the fact that 78% of small business owners intend to sell their businesses to fund retirement.
The Center is a dynamic partnership between regional organizations and individuals invested in the retention of local businesses and the future of our communities. The goal is to help owners sell their businesses on the open market, complete intergenerational family transitions or convert to an employee-owned or cooperative model.
2020 Community Liaisons
Cornell Cooperative Ext. North Country Regional Ag Team, Kelsey O’Shea
Franklin County Industrial Development Agency, Russ Kinyon
Hamilton County Economic Development, Christy Wilt and Rachelle Martz
Lewis County Economic Development, Brittany Davis
St. Lawrence County Chamber of Commerce, Brooke Rouse
Saranac Lake Area Chamber of Commerce, Patrick Murphy *
Ticonderoga Area Chamber of Commerce, Matthew Courtright and Erin Mullen
Greater Watertown-North Country Chamber of Commerce, Kylie Peck *
2020 Lead Partners
Adirondack Economic Development Corp. (AEDC), Victoria Duley and Stephanie Donaldson*
Adirondack Park Agency Economic Services, Dan Kelleher
Essex County Industrial Development Agency, Carol Calabrese
SUNY Canton SBDC at Clinton Community College, Angela Smith
*New as of January 1, 2020
No comprehensive program existed in our region to provide infrastructure & fill these gaps… until now.
The Adirondack North Country Center for Businesses in Transition is coordinated by the Adirondack North Country Association (ANCA). For more information about the project, please visit https://adirondack.org/#!node/1247/
The program is made possible through the financial support of the Northern Border Regional Commission.