SARANAC LAKE — At press time, the North Country Center for Businesses in Transition (CBIT) partnership was getting ready to welcome aspiring business owners to its second Small Communities. Big Opportunities: Own a North Country Business Conference. The three-day educational and networking conference runs from Feb. 12-14 in Saranac Lake, the Adirondack North Country Association […]
SARANAC LAKE — At press time, the North Country Center for Businesses in Transition (CBIT) partnership was getting ready to welcome aspiring business owners to its second Small Communities. Big Opportunities: Own a North Country Business Conference.
The three-day educational and networking conference runs from Feb. 12-14 in Saranac Lake, the Adirondack North Country Association (ANCA) announced. The conference is scheduled as an in-person event with a virtual option. In-person events are scheduled at the Hotel Saranac, where attendees can connect with current and aspiring business owners, business support professionals, and CBIT representatives. ANCA describes CBIT as a “regional partnership focused on retaining small businesses in northern New York.”
“The conference is designed to meet the needs of a wide variety of participants in a short amount of time,” Danielle Delaini, ANCA’s entrepreneurial economy program director, said in a statement. “We’ll cover the whole gamut, from broad topics like what it’s like living in the North Country to practical details like tax considerations, marketing strategies and business valuation.”
The conference offers attendees the chance to learn directly from current owners about what it is like to operate a business in the North Country and connect with a wide range of business ownership opportunities, Ben Dixon, executive director of the St. Lawrence County Chamber of Commerce and community liaison with CBIT, said.
Participants can meet face-to-face with owners of businesses located throughout the region. Those include Nature’s Storehouse in Canton; Done Right Cleaning in St. Lawrence County; Lafave Automotive in Vernon; and other businesses including restaurants, shops, and service providers.
Tracks and speakers
Following a virtual conference in 2021, this year’s event offers different tracks for aspiring, beginning and more established entrepreneurs, “no matter where they are in the ownership process.” Participants will have opportunities to meet with retiring owners, learn about available businesses, and learn from experts about key elements of a successful business transition, including marketing, branding, accessing capital and relocating in the North Country.
Attendees will also hear from guest speakers who have been involved in the CBIT partnership. They include Sandy Maine, founder of Adirondack Fragrance & Flavor Farm in Parishville in St. Lawrence County. She recently passed on her successful body products and candle business to her son and daughter-in-law.
In addition, Cori Deans of Keene in Essex County will speak about her experience operating Small Town Cultures, a successful fermented food business, which has “rapidly outgrown” its Lake Placid facility and will soon be moving to a larger space in Plattsburgh, ANCA said.
CBIT success story
Saying that the average business transition takes three to five years to complete, Delaini said that the CBIT partnership — which serves 14 counties in northern New York — supported 37 successful business transitions since ANCA established the Center four years ago. She said the 215 businesses that accessed CBIT services during this period represent more than 1,040 full- and part-time jobs retained in the region.
The businesses include Adirondack Awards and Promotions, a Lake Placid company that has been providing customized trophies, awards, and engraved and embroidered products for local businesses, organizations, and sports teams since 1962.
Tyler Merriam and Nick Prechel purchased the business in August 2022 with CBIT’s support.
“For people who are considering attending the conference, I would strongly encourage them to do so,” said Merriam. “Networking and connections are critical in the business world. We have received so much support from local business owners, from previous owners and sellers, and people who have gone through this process before. Building those connections and learning from them has been invaluable.”
Merriam went on to say, “And for an entrepreneur who is looking for a place-based business, I would sing the praises of this region hands down.”
In November, National Grid awarded ANCA a $100,000 grant to support the conference and other 2023 CBIT programs. Additional funding has been provided by Adirondack Foundation; Community Bank; Franklin County Government Office of Economic Development and Tourism; New York State Electric & Gas (NYSEG), an Avangrid Company; and the SUNY Canton Small Business Development Center.
ANCA established CBIT in 2018 with grant funding from the Northern Regional Border Commission to address the loss of area businesses. It provides matchmaking services with potential buyers, access to planning tools, and connection with existing services. CBIT services have expanded to provide support for aspiring entrepreneurs who wish to purchase an existing business. CBIT is comprised of 13 community liaisons and partners across ANCA’s 14-county service area.