Business Valuation and Succession Planning

Overview of the Business Valuation and Succession Planning program:

This initiative aims to support the successful transfer of businesses, which is vital for community development. CBDCs collaborate with professional valuators to provide accurate business valuations, helping owners determine appropriate sale prices and prepare for ownership transitions. Additionally, the program promotes available business opportunities to potential buyers across provincial, national, and international markets.

Benefits of the Business Valuation and Succession Planning program:

• Financial assistance covering a significant portion of business valuation costs.
• Access to professional valuation services to determine accurate business worth.
• Promotion of business opportunities to a wide audience of potential buyers.
• Support in ensuring smooth ownership transitions, contributing to community economic stability.

Eligibility criteria of the Business Valuation and Succession Planning program:

• Eligible applicants must:
• Be small businesses operating in a CBDC-governed region of Newfoundland and Labrador.
• Be actively preparing to transfer ownership of the business.
• Be in good standing with the Canada Revenue Agency (CRA), Atlantic Canada Opportunities Agency (ACOA), and the Government of Newfoundland and Labrador.