Franklin County LDC announces partnership to help businesses in transition

February, 2019


MALONE — The Franklin County Local Development Corporation will partner with a regional coalition aimed at helping preserve the businesses of retiring operators.

The effort is being coordinated by Adirondack North Country Association (ANCA), through the organization’s Center for Businesses in Transition.

Dani Delaini, ANCA’s coordinator for the Center, met with members of the county’s Industrial Development Agency board of directors on Wednesday, to review the purpose of the initiative.

The LDC, affiliated with the county’s Industrial Development Corporation, will host two informational events for local residents looking to evaluate their business for sale and looking for promising successors for their business model.

ANCA estimates that there are approximately 10,000 businesses across the North County’s 14 counties currently owned by members of the “Baby Boomer” generation, according to the Delaini — many of whom will reach retirement age in the near future.

Many of those owner-operators, said Delaini, will not just be able to hand those businesses over to a relative or business partner. In those situations, a successful and needed local institution could disappear from the region.

The Center spent much of last year interviewing local business owners in that age range, gauging the plans and trends among the demographic.

Read the full article in the Malone Telegram