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New Resources for Aspiring and Retiring Business Owners

October 05, 2020

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Center for Businesses in Transition releases new website, guidebook and workshop series

FOR IMMEDIATE RELEASE | Contact: Audrey Schwartzberg, ANCA Communications Associate, (518) 891-6200 or aschwartzberg@adirondack.org 

SARANAC LAKE, N.Y. — Looking ahead to 2021, many aging business owners have renewed their commitment to developing a succession plan. Despite concerns regarding COVID-19, The Center for Businesses in Transition (CBIT) has seen an uptick in interest and engagement this summer. In response, the partnership of business support organizations has announced a lineup of new tools and virtual events to assist transitioning businesses.

CBIT’s new resources include a new website, which focuses on attracting would-be entrepreneurs to the region, a new guidebook for transitioning business owners, and a fall workshop series that covers topics relevant for transitioning businesses. The six morning workshops will be hosted by partner organizations throughout the region and take place virtually via Zoom during the month of October. The third session, “Business Transitions Overview: Where Do You Start?” will be held on Wednesday, October 14, 8:00-9:15 a.m, and hosted by Lewis County Economic Development.

Adirondack North Country Association (ANCA) Business Transition Program Coordinator Danielle Delaini said that business owners have been reaching out throughout the summer to renew conversations about their transition plans, many having new leads for potential successors. As a result, she said, there are currently 10 businesses in the partnership’s pipeline that qualify as actively pending transitions.

“We were relieved and excited to see so much engagement from area businesses and entrepreneurs during the COVID-19 crisis,” Delaini said. “This has reinforced our commitment to providing the tools and resources folks need to transition their businesses and support a diverse and resilient economy throughout the region.”

The Center’s new website, which can be viewed at www.ownanorthcountrybusiness.com, is designed for aspiring entrepreneurs who are looking to take over an existing business. It will highlight available ventures, local small business resources, as well as the region’s unique character and assets.

This comes at the right time as more would-be entrepreneurs, like Peter Jacobson of Burlington, VT, are seeking support from the Center as well.

“I’m choosing small business ownership because I want to put my heart into a business I can grow. Jacobson said. “I want to build relationships that span decades, and be part of a community where I can put down roots.”

Jacobson has a background in industrial operations and is looking for the right opportunity in a sector that matches his skill sets and passions. Owners of businesses in sectors such as commodities, logistics, industrial services, plumbing and HVAC or similar services may be interested in connecting with him through the Center.

The website is a project of the Student WEB Program — a collaborative e-commerce development support program that was spearheaded by ANCA, the Shipley Center for Innovation at Clarkson University and the St. Lawrence County Chamber of Commerce in response to small business needs during the COVID-19 pandemic and economic shutdown.

This month, the Center also 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 during the fall workshop series and is also available on the CBIT website at bit.ly/CBITguide.

Retiring business owners and entrepreneurs interested in taking over existing businesses are encouraged to register at www.adirondack.org/CBITWorkshopSeries for some or all of the six workshops, which are free and open to the public. The sessions will also be recorded so interested business owners can view them at their convenience and as needed in the future.

  • Thursday, October 1, 8:00-9:15 a.m.: “Utilizing all of Your Transition Resources: Overcoming Common Obstacles,” hosted by Ticonderoga Area Chamber of Commerce
  • Thursday, October 8, 8:00-9:15 a.m.: “Your Best Possible Successor is Already Working for You, hosted by Greater Watertown-North Country Chamber of Commerce”
  • Thursday, October 14, 8:00-9:15 a.m.: “Business Transitions Overview: Where Do You Start?,” hosted by Lewis County Economic Development/IDA
  • October 15, 8:00-9:15 a.m.: “Marketing Your Available Business,” hosted by The Saranac Lake Area Chamber of Commerce and The County of Franklin Economic Development/IDA
  • Wednesday, October 21, 8:00-9:15 a.m.: “Determining Value: Perspectives from Buyers and Sellers,” hosted by Hamilton County IDA
  • Thursday, October 27, 8:00-9:15 a.m.: “Not Just a Sale: The Role of Realtors in a Business Transition,” hosted by St. Lawrence County Chamber of Commerce CBIT Webinar 10 14 2020

Register Here

Lewis County Economic Development and IDA, as a one-stop-shop, work together as the central office to provide business assistance and new business development in Lewis County, NY. The agency works locally and regionally to enhance business opportunities, help create jobs and maintain economic stability within Lewis County. Through the Naturally Lewis brand, we promote Lewis County as the 'natural choice' to live, work and do business.

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