Monday, August 13, 2018

Center For Business Transitions Gets Funding

center for business in transitionThe Adirondack North Country Association (ANCA) is set to recieve $248,364 from the Northern Border Regional Commission (NBRC) to fund its new Adirondack North Country Center for Businesses in Transition.

The new center is expected to assist retiring business owners as well as aspiring entrepreneurs in successfully sustaining local businesses for the benefit of their communities and future generations. The Center will be based out of ANCA’s Saranac Lake office and use the organization’s “circuit rider” model to reach business owners throughout the Adirondack North Country region.

The key objectives of the Center’s efforts are to engage retiring and up-and-coming business owners by connecting them with resources and networks and assisting with business transition planning. In its first three years, the program aims to identify at least 4,800 businesses for succession planning outreach, assist 240 businesses in developing transition strategies and help 50 entrepreneurs plan for taking over an existing business.

The grant funding will support one full-time coordinator and three part-time community liaisons, whose outreach is expected to mirror ANCA’s Energy Circuit Rider (ECR) model. ANCA staff will be working with public, private and nonprofit partners to identify businesses in need and connect them to resources and/or matchmaking with entrepreneurs.

ANCA announced it was seeking funding for the effort in May of this year, winning the support of Senator Kirsten Gillibrand (D-NY), who visited ANCA’s Saranac Lake office to announce bipartisan legislation to facilitate the transition of existing businesses to employee-owned business models.

ANCA is an independent nonprofit organization. The Northern Border Regional Commission (NBRC) is a Federal-State partnership for economic and community development within the most distressed counties of Maine, New Hampshire, Vermont and New York.

For more information about the Center for Businesses in Transition contact ANCA’s Jacob Vennie-Vollrath or Danielle Delaini at or (518) 891-6200.

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