Potential RED Projects – Business Succession and International Investment Attraction
Briefing Note for Ontario Economic Development Programs
Prepared by SXNM SuccessionMatching Ltd.
February 5th, 2019
To explore opportunities concerning our mutual goals of assisting business owners with succession plans, encouraging youth entrepreneurship, international investment attraction, and enhancing the economic competitiveness of communities in Ontario.
SXNM SuccessionMatching Ltd. runs SuccessionMatching.com—an online community of business buyers, sellers, and succession planning professionals. Our mission is to ensure farms and businesses in communities across North America continue to operate for generations to come. We do this by providing the assistance required for successful ownership transitions that benefit all parties involved. We assist our members throughout the succession planning and business transition process, guiding them to appropriate succession planning professionals whose services can benefit them.
The following information has been selected to highlight some programs that we see as a natural extension of the work in Ontario.
Buyers and Seller listings on the site can be purchased for a reduced price using Coupon Codes. Coupon Codes are typically sold to community partners such as economic development organizations that work with business owners. The actual reduced amount of the listing price is negotiated with each community partner and coupon codes members a paid listing for 3 years.
Workshop and Presentations – Five Stages of a Business Transition
Workshops and presentations will be delivered locally to business owners and circles of influence by a member of the SuccessionMatching team.
During a business transition, finding financing is a major pain point. Workshops are specific in providing tools and recommendations based on local funding partners such as Community Futures Offices. Local stakeholders can be engaged to address the financing aspects of transitions.
Not-for-Profit Succession Planning Workshop
Facilitated by an executive of the SXNM team, these 2-3 hour workshops detail how not-for-profit organizations can put a succession plan in place. Because every organization is unique, these workshops lead participants through an assessment of their organization’s succession plan readiness and its path forward. SXNM staff provide expert guidance through these tough decision making processes.
We have delivered this workshop at the Northern Tourism Summit receiving 5/5 reviews for each person who attended. The strategies learned in this workshop are not only vital to keeping Not-For-Profits running but is also a great way to engage the most active members of our communities to become champions of succession.
Formal Succession Plan Consultations
Privacy is extremely important to business owners throughout the transition process. Consultations will be offered to business owners at the Community Futures Regional office to help them create their own formal succession plan and recommend the next steps towards transitioning their business.
During these consultations, business owners will also be able to set up a seller profile on the SuccessionMatching platform to match with a potential buyer through the use of the coupon codes purchased by your organization. SuccessionMatching offers both buyers and sellers different levels of privacy as they work through their succession plan and match in the marketplace.
Be Your Own Boss Program
Many young people, women, and Indigenous people today lack the opportunity to succeed in a rapidly changing workforce. The Be Your Own Boss program engages underrepresented post-secondary institution students and graduates to provide a path toward self-employment and business ownership. SuccessionMatching’s network and tools are perfectly suited to bridge the gap between business owners looking to transition and a diverse population of entrepreneurs.
We have formal partnerships with a number of colleges and universities in Ontario. Their alumni are active on our site and looking for opportunities. Together, we can champion the next generation of business owners while helping to prevent existing businesses from shutting down.
NEW Key Technology:
SXNM is developing an algorithm for International Buyer clients (Foreign Direct Investment and Skilled Workforce). SuccessionMatching will work with partners to implement and market this funnel in order to create efficiencies in their FDI efforts. SXNM will focus on rural and Northern community outreach which is in line with the federal government’s immigration priorities.
Increasing the number of SME owners who are ready to sell increases, in turn, the number of SMEs that are ready to sell to an international buyer, leading to successful PNP business purchases and completed transitions.
We would like to schedule a follow-up call to review any questions and discuss ways that we could collaborate in 2020.
Contact information: firstname.lastname@example.org
306 992 5547
CEO and Founder, SXNM SuccessionMatching Ltd
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