Support to North Country Business Owners
The Center for Businesses in Transition partnership provides support free of charge to qualifying Adirondack North Country business owners. Supports include:
- Matchmaking services with potential buyers
- Access to planning tools
- Connections with low- and no-cost services, including the Seller’s Working Group
After completing the inquiry form, you will be:
- Contacted by a member of the CBIT team who will interview you about your future plans and needs.
- Added to a mailing list to receive notifications about relevant events & workshops
- Presented with recommendations for next steps. Often this will be connecting you with experts in the region who can work with you to realize your goals.
- Added to an online directory of available businesses in the North Country (Dependent upon your goals)
- Supported by the CBIT team as needed throughout your process.
Are you a North Country business owner planning to sell or transition your business in the next year or two?
In Fall 2021, CBIT will offer a Seller’s Working Group, bringing together business owners planning to sell in the next few years. In partnership with ANCA’s Center for Pandemic Response, business owners will participate in virtual group sessions and one-on-one counseling to acquire the tools and know-how needed to sell or transition a business.
Business owners interested in the Seller’s Working Group should complete the CBIT Inquiry Form and will be offered the opportunity to speak with a Center for Pandemic Response (CPR) Program Navigator about the Seller’s Working Group and other CPR programs.
Where can you find a localized how-to guide
The Center has published a guidebook for transitioning business owners — a localized how-to guide for navigating the multifaceted succession planning process. The document also highlights local free and low-cost resources to help business owners get started. The guidebook will be launched in Fall of 2020 and is at bit.ly/CBITguide.
What CBIT doesn’t do
- Act as your lawyer, banker, financial consultant, mortgage broker, etc. But we do help you build your team and learn about what questions to ask.
- Provide business valuations and/or build business plans for you. But we can provide templates and resources for you to get started before you meet with other professionals.
What else you should know before getting started
- Building a smooth and successful transition plan takes an average of 3-5 years
- Regardless of the type of transition, you would like to plan (even family transitions), the transition process often costs a minimum of 3K in fees and services. These expenses likely come from your accountant, lawyer, and other members of your transition team.