CBIT Series: Intergenerational Family Transitions, Creative Solutions and Alternative Structures
Family businesses face unique challenges and opportunities as they pass on ownership and operations from one generation to the next. Next week, North Country family business owners and regional business support professionals will share their experiences with succession planning issues at an informational and networking event presented by the North Country Center for Businesses in Transition.
Family business owners, retiring owners and entrepreneurs interested in taking over existing businesses are encouraged to participate in the workshop, which will take place on Wednesday, July 10 from 8:00 to 10:30 a.m. at Anchorspace Potsdam, 71 Market Street, Potsdam. The event is hosted by the St. Lawrence County Chamber of Commerce. SUNY Canton Small Business Development Center (SBDC) Business Advisor Michelle A. Collins will moderate. The workshop is free and open to the public.
Each workshop features invited panelists who speak about their experiences with selling a business, taking over an existing enterprise or supporting small businesses through ownership changes. Panelists for the July 10 workshop include Deena McCullough, president and chief executive officer of Northern Insuring Agency, a Plattsburgh-based insurance firm that has been in her family for three generations.
William P. Collins, president and licenced insurance agent and broker at MacFadden Dier Leonard Agency in Canton, will also be on the panel. In over 23 years working in insurance, Collins has supported a number of businesses transition in the North Country.
Presentations by regional professionals will focus on business governance, the importance of peer networking and peer-to-peer groups in family transitions, developing strategic plans, convening family stakeholder meetings and creating a leadership development strategy.
Carol Wittmeyer, visiting associate professor at St. John Fisher College in Rochester, NY, is one of the invited presenters. Wittmeyer is working to develop a new Family Business Initiative at the college which includes a Next Generation Leadership Program.
Debi Pettit, an accredited human resources professional and business advisor, will also present. Pettit has over 25 years of experience in human resources operations and has implemented business conversion programs for a variety of North Country enterprises, including family businesses transitioning to the next generation.
71 Main Street
Potsdam, NY 13676