Latest News

Winnipeg Free Press - ONLINE EDITION

Province to help small businesses with succession

By: Staff Writer

Posted: 12/11/2012 2:19 PM | Comments: 0

The province will create a new resource centre to help entrepreneurs transfer their businesses to new owners as they retire.

Premier Greg Selinger made the announcement to a Winnipeg Chamber of Commerce luncheon attended by nearly 1,000 people.

It is estimated that 40 per cent of small- and medium-sized-business owners plan to retire in the next five years, Selinger said. This means Manitoba's business community will undergo a significant transition with the potential transfer of millions of dollars in business assets, the premier said.

To help retiring entrepreneurs meet the challenges of transferring their businesses to new owners and continue driving Manitoba's economy, the provincial government will create the Manitoba Business Succession Resource Centre, Selinger said.

Business succession planning is one way to ensure the extensive transfer of viable enterprises takes place effectively, promoting a healthy business community and a stronger economy, the premier said.

"The new resource centre will build on the recently introduced the Employee Share Ownership Plan tax credit, which helps existing employees transition from employee to business owner, empowering employees and strengthening businesses and the Manitoba economy," the premier said.

The Business Succession Resource Centre will be delivered through a new single-point of contact business services organization that was announced in the province's recent throne speech. The resource centre will showcase resources and business information specific to business succession including offering workshops, seminars and guides, business counselling services and access to industry professionals.

Enhancements will also be made to the Manitoba business website, highlighting the resources and programming specific to business succession, Selinger said.

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.

* Required

In which story did you find the error? *
Please post the headline of the story or the title of the video with the error.
What was the error? *
Please post exactly what was wrong with the story.
What should we have written?
Please indicate your source for the correct information.
Who else should we interview to improve this story?
Please include any contact information you may have.
Can we contact you in the future for advice on stories about this topic?
Yes

No
First Name: *
Last Name: *
E–mail Address: *
This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.
Phone: *
This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.
Colour:
Are you blue? If you can see this, leave it blank and get some CSS support.
Enter the words that you see: * This is to prevent our forms from being filled out automatically.
You have failed to correctly identify the words in the box above. Please try again.

More Latest News

Undock

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.