Owning a business can be challenging on many levels, but what happens when the financial and sweat equity the owner has put into that business over the years doesn’t translate into interested buyers when the owner wants to retire, relocate or just get out of the field?
As more business-owning baby boomers get ready to retire, the challenging decision to sell or shutter the doors with no options or plan in place becomes even more daunting.
The Adirondack North Country Center for Businesses in Transition program, initiated by the Adirondack North Country Association, seeks to help north country business owners who want to transition into the next phase of their lives, create a strategy to go about it.
Through a network of program liaisons, community members, buyers and sellers, the program will facilitate transitions around the 14 counties of the north country, according to the association’s news release.
The group had its first meeting in Saranac Lake on Jan. 14.
Danielle Delaini, the program coordinator, said, “The most important work is building the network between people and the community liaisons because they are the boots on the ground. The liaisons are crucial in making this program happen.”
Read the full article in the Watertown Daily Times.