Community Futures Yellowhead East is launching a new initiative, ExitNavigator, designed to support rural Alberta business owners seeking to sell or transition their company.
The organization says seven out of 10 Canadian entrepreneurs are expected to transition the ownership or leadership of their company in the next three to five years, making this a critical time to provide support to business owners.
“With the growing number of business owners looking to retire, the time is right for Community Futures to provide a service supporting both current business owners and prospective buyers,” said Michelle Jones, Executive Director, Community Futures Yellowhead East.
ExitNavigator will provide services such as business consultation, valuations, mediation, business loans and other transition-related support for companies located outside the major metropolitan areas of Edmonton and Calgary. It will also support entrepreneurs looking to purchase an existing business.
Jones continued, “ExitNavigator provides guidance to ensure viable businesses can continue operating and serving their community, while also taking the needs of the outgoing business owners into account.”
The new service is a collaborative effort between Alberta Community Futures and VentureConnect, with funding provided by PrairiesCan through the 2.0 Rural Opportunities Fund.
Current or potential business owners interested in exploring these services can do so online or by contacting the ExitNavigator Project Coordinator at 403-995-4151 (ext. five) for more information.
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