Without a transition plan in place, many of our region's businesses are in danger of closing, depriving their communities of employers as well as the vibrancy that helps our towns and villages thrive.
- Kate Fish, Executive Director, ANCA
The Adirondack North Country Center for Businesses in Transition addresses the loss of area businesses by providing matchmaking services with potential buyers, access to planning tools and connection with existing services.
The Center is a dynamic partnership between regional organizations and individuals invested in the retention of local businesses and the future of our communities. The goal is to help owners sell their businesses on the open market, complete intergenerational family transitions or convert to an employee-owned or cooperative model.
You are a business owner looking to retire or transfer ownership and you need assistance:
Or if you are an aspiring entrepreneur looking to:
Although we call it a Center, it is not housed in one location. The Center is staffed with a full-time coordinator at ANCA's central office & part-time outreach liaisons throughout the region dedicated to increasing the number of successful transitions.
Community Outreach Liaisons are on the road, using technology & collaborating with other organizations to bring assistance to communities across northern NY. These individuals have been chosen for their understanding of area business and involvement in their communities. They share co-working space with chambers & economic development agencies throughout the region; ensuring the sharing of resources, information & objectives. The Center’s community liaisons include the following regional representatives:
2020 Community Liaisons
Cornell Cooperative Ext. North Country Regional Ag Team, Kelsey O’Shea
Franklin County Industrial Development Agency, Russ Kinyon
Hamilton County Economic Development, Christy Wilt and Rachelle Martz
Lewis County Economic Development, Brittany Davis
St. Lawrence County Chamber of Commerce, Mike Besaw
Saranac Lake Area Chamber of Commerce, Patrick Murphy *
Ticonderoga Area Chamber of Commerce, Matthew Courtright and Erin Mullen
Greater Watertown-North Country Chamber of Commerce, Kylie Peck *
2020 Lead Partners
Adirondack Economic Development Corp. (AEDC), Victoria Duley and Stephanie Donaldson*
Adirondack Park Agency Economic Services, Dan Kelleher
Essex County Industrial Development Agency, Carol Calabrese
SUNY Canton SBDC at Clinton Community College, Angela Smith
*New as of January 1, 2020
More than 10,000 businesses in the Adirondack North Country are owned by Baby Boomers looking to retire over the next several years in the so-called “silver tsunami.” It is more than likely that most of these business owners do not have a transition plan. Nationally, while more than 1/2 of small business owners expect to retire in the next 10 years, fewer than 15% have an exit plan in place - despite the fact that 78% of small business owners intend to sell their businesses to fund retirement.
Those looking to create a plan, retire or transfer ownership have difficulty:
Finding suitable successors
Navigating available resources
Many businesses are unfamiliar with solutions such as employee ownership, particularly in the form of worker cooperatives. Worker Cooperatives provide a means through which a business may be transferred to individuals who are already invested in its success, keeping the business and jobs local.
ANCA & a network of public, private & nonprofit partners has establish the North Country Center for Businesses in Transition. No comprehensive program existed in our region to provide infrastructure & fill these gaps... until now.
Some of partners also maintain public business listings and commercial opportunities on their websites:
The Center for Businesses in Transition will continue it's popular workshop series that covers topics relevant for transitioning businesses.
The morning workshops will be hosted by partner organizations throughout the region. For those who are unable to attend workshops in person, community liaisons will offer online viewing opportunities at other locations around the North Country. Workshops will also be recorded so that interested business owners will be able to view them at their convenience and as needed in the future.
We hope that you will be able to join us. Save the dates! Registration links will be available online by February 1, 2020.
In 2019, the Center sponsored additional programming developed by regional partners and include half-day workshops on business valuation, farm transitions and other topics related to business transitions and succession planning.
Sponsored events include:
Why It's Prime Time to Own a Business: SUNY Canton SBDC at Clinton Community College
Wednesday, March 20, 2019 from 5:30 PM to 7:00 PM (Ticonderoga) & Wednesday, March 27, 2019 from 5:30 PM to 7:00 PM (Lake Placid)
Buying or Selling a Business: What's it Worth?: SUNY Canton SBDC at Clinton Community College
Cost: $10 per person: Wednesday, April 10 9:00 AM to 12:00 PM (Saranac Lake) & Thursday, April 11 9:00 AM to 12:00 PM (Plattsburgh)
Farm Transition Series: Cornell Cooperative Extension
Free! Each session will be offered live at two locations and available online after the session.
Read about businesses in your backyard who have successfully transitioned to new ownership.
The Center for Businesses in Transition will benefit greatly from bipartisan legislation recently announced by Senator Kirsten Gillibrand (D- NY) at ANCA’s Saranac Lake office. The Main Street Employee Ownership Act will improve access to capital and supply technical assistance to businesses seeking this type of transition. Focus on employee ownership is growing nationally, as data shows these types of businesses pay their employees more, are more productive and supply greater stability.
For more information about this initiative contact Danielle Delaini at firstname.lastname@example.org or (518) 891-6200.
For more information, contact: