SARANAC LAKE — The North Country Center for Businesses in Transition (CBIT) has announced a series of virtual events to assist transitioning businesses. The North Country CBIT is also using new resources that include a new website, which focuses on attracting would-be entrepreneurs to the region, a guidebook for transitioning business owners, and the fall […]
SARANAC LAKE — The North Country Center for Businesses in Transition (CBIT) has announced a series of virtual events to assist transitioning businesses.
The North Country CBIT is also using new resources that include a new website, which focuses on attracting would-be entrepreneurs to the region, a guidebook for transitioning business owners, and the fall workshop series that covers topics relevant for transitioning businesses.
Despite concerns over the COVID-19 pandemic, CBIT says it had an “uptick in interest” during the summer months and many aging business owners have “renewed their commitment” to developing a succession plan.
The North Country CBIT is a collaboration of regional organizations and leaders “whose shared goal is to support existing business owners and aspiring entrepreneurs in developing successful business-transition strategies,” according to the Adirondack North Country Association (ANCA).
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 Ticonderoga Area Chamber of Commerce will host the first session, “Utilizing all of Your Transition Resources: Overcoming Common Obstacles,” which is set for Oct. 1 from 8-9:15 a.m.
Danielle Delaini, coordinator of ANCA’s business-transition program, 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, 10 businesses are currently in the partnership’s pipeline that qualify as “actively pending transitions,” she noted.
“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.”
Workshop series
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.
• Oct. 1, 8-9:15 a.m.: “Utilizing all of Your Transition Resources: Overcoming Common Obstacles,” hosted by Ticonderoga Area Chamber of Commerce
• Oct. 8, 8-9:15 a.m.: “Your Best Possible Successor is Already Working for You,” hosted by Greater Watertown-North Country Chamber of Commerce”
• Oct. 14, 8-9:15 a.m.: “Business Transitions Overview: Where Do You Start?,” hosted by Lewis County Economic Development/IDA
• Oct 15, 8-9:15 a.m.: “Marketing Your Available Business,” hosted by The Saranac Lake Area Chamber of Commerce and the County of Franklin Economic Development/IDA
• Oct. 21, 8-9:15 a.m.: “Determining Value: Perspectives from Buyers and Sellers,” hosted by Hamilton County IDA
• Oct. 27, 8-9:15 a.m.: “Not Just a Sale: The Role of Realtors in a Business Transition,” hosted by the St. Lawrence County Chamber of Commerce
The first session, “Utilizing all of Your Transition Resources: Overcoming Common Obstacles,” will feature a panel of area resource providers including Carol Calabrese, co-director of the Essex County Industrial Development Agency (IDA), Angela Smith, certified business advisor for the SUNY Canton Small Business Development Center (SBDC) at Clinton Community College, ANCA’s Delaini, and Stephanie Donaldson, business counselor at the Adirondack Economic Development Corporation (AEDC).
New website, guide book
The center’s new website 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.
The website (www.ownanorthcountrybusiness.com) is a project of the student WEB program, an 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.
The center has also published a guidebook for transitioning business owners, described as 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.