SARANAC LAKE — Nationwide, only 20 percent of businesses that go on the market end up being sold. In the Northern New York, over 10,000 business owners are nearing retirement, and new owners are hard to find. The Adirondack North Country Center for Businesses in Transition — a unique collaboration of regional organizations and leaders has a goal to support existing business owners and aspiring entrepreneurs in developing successful business transition strategies.
Following its first gathering of lead partners and representatives at the Adirondack North Country Association office in Saranac Lake on Jan. 14, the Center announced a slate of community liaisons, a monthly workshop series and other ways the group will share insights, skills and resources to assist local businesses in transition.
“I like to think of this program as an organic movement toward collaborative problem solving,” said Danielle Delaini, ANCA’s Business Transition Program Coordinator. “We’re tackling a national issue with a regional approach. The talent and expertise represented within this partnership will provide outreach and education strategies that are appropriate for North Country businesses.”
According to Delaini, over 50 organizations and community leaders are supporting the partnership throughout the 14-county North Country region. Eight designated “community liaisons” will play a crucial role in supporting successful transitions including the following options: selling on the open market, intergenerational family transitions, and conversions to a worker ownership model.
Read the full article in the Courier Observer.