CBDC Business Valuation and Succession Planning
NS, Canada
Funding to conduct business valuations
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJune 15, 2022
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Community Business Development Corporations (CBDC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get up to $7,500 to cover a maximum of 75% of the eligible expenses to hire a professional valuator that will provide an estimate of your business value and enable you to set a sale price.
grant_single_labels|projects
Eligible projects or activities for this grant may include conducting business valuations for small businesses preparing to transfer ownership and showcasing business opportunities in provincial, national, and potentially international markets.
- Conduct business valuations for small businesses
- Showcase business opportunities in various markets
grant_single|admissibleProjectsExample
$4,800
Ottawa
Perform a valuation of an artisanal bakery to aid in ownership transfer
$5,250
Toronto
Conduct a valuation of a local coffee shop to determine the business's market value
$4,875
Montreal
Obtain a professional valuation for a small tech startup
$5,250
Vancouver
Evaluate the going concern value of a small family-owned bookstore
$4,500
Calgary
Assess the value of a local organic grocery store to facilitate ownership transfer
$4,500
Halifax
Determine the valuation of a dog grooming business to set a sale price
grant_single_labels|admissibility
Businesses must be operating in a CBDC governed region and preparing to transfer ownership to be eligible for this grant. They should be in good standing with CRA, ACOA, and Government of NL.
- Small businesses operating in a CBDC governed region, actively preparing to transfer ownership
- Businesses in good standing with CRA, ACOA, and Government of NL
grant_eligibility_criteria|who_can_apply
Small businesses operating in a CBDC governed region, actively preparing to transfer ownership of the business, and in good standing with CRA, ACOA, and Government of NL are eligible for this grant.
- Small businesses in CBDC governed regions
- Businesses actively preparing for ownership transfer
- Businesses in good standing with CRA, ACOA, and Government of NL
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include:
- Costs associated with conducting business valuations
- Professional services fees for valuations
- Marketing and promotion expenses for showcasing business opportunities
grant_single_labels|criteria
There are evaluation and selection criteria for this grant:
- Applicants must be small businesses operating in a CBDC governed region, actively preparing to transfer ownership of the business
- Businesses must be in good standing with CRA, ACOA, and Government of NL
- Program requirements include an application fee of 3% (up to $300), working with a qualified consultant, and agreeing to share the opportunity on businessatlantic.ca
grant_single_labels|register
- Step 1: Ensure that your business is operating in a CBDC governed region and is actively preparing to transfer ownership.
- Step 2: Verify that your business is in good standing with CRA, ACOA, and the Government of NL.
- Step 3: Prepare to pay an application fee of 3%, to a maximum of $300.
- Step 4: Engage and work with a qualified consultant for the business valuation process.
- Step 5: Agree to share the business sale opportunity on businessatlantic.ca.
- Step 6: Submit the application through the required channels as specified by CBDC personnel.
grant_single_labels|otherInfo
- Eligible companies must be in good standing with CRA, CASLPA and the Government of Newfoundland and Labrador.
- The program registration fee is 3%, with a maximum of $300.
Apply to this program
Business Valuation and Succession Planning Grant Summary:
Business Valuation and Succession Planning Grant
Comprehensive Business Valuation and Succession Planning Program
The Business Valuation and Succession Planning grant program offered by CBDCs in Newfoundland and Labrador aims to assist small businesses in estimating the economic value of their business and preparing for ownership transfer. With a focus on community development, the program provides financial support for business valuations, showcases opportunities to potential buyers, and ensures businesses are ready for succession. Small businesses in CBDC governed regions can apply for this program, which offers funding for eligible valuation costs and requires businesses to be in good standing with relevant authorities.
Assistance and Requirements
Businesses preparing for ownership transfer can benefit from financial assistance covering 75% of eligible costs up to a maximum of $7,500 to conduct business valuations. The program also facilitates the showcasing of business opportunities in various markets to attract interested buyers. To qualify, businesses must be operating in CBDC governed regions, have good standing with CRA, ACOA, and the Government of NL, pay an application fee, work with a qualified consultant, and agree to share opportunities on businessatlantic.ca. CBDC personnel are readily available to help business owners navigate the valuation and succession planning process effectively.
Community Development and Business Transition
The program underscores the importance of succession planning and the successful transfer of businesses in fostering community development. By assisting businesses in determining the sale price of existing businesses and preparing for ownership transitions, CBDCs contribute to the sustainability and growth of small businesses. The program aims to support business owners in transitioning their businesses smoothly, while also creating new opportunities for potential business owners to enter the market. Through collaboration with professional valuators and engagement with interested buyers, businesses can effectively plan for the future and ensure a seamless transition of ownership.
Opportunities for Growth and Sustainability
The Business Valuation and Succession Planning program not only provides financial support for business valuations but also offers a platform to showcase business opportunities on regional, national, and potentially international levels. By attracting interested buyers and promoting business opportunities, the program enhances the visibility of small businesses and fosters growth and sustainability. Business owners can leverage the program to position their businesses for successful transitions, attract potential buyers, and lay the groundwork for future success.
Empowering Small Businesses and Promoting Transfer of Ownership
Through this grant program, CBDCs empower small businesses in Newfoundland and Labrador to assess the economic value of their businesses and plan for ownership transfer effectively. The program encourages businesses to engage in succession planning, seek interested buyers, and ensure the smooth transition of ownership. By providing financial support, guidance, and resources, CBDCs play a vital role in helping businesses navigate complex valuation and succession processes, ultimately promoting the transfer of ownership and the sustainability of small businesses.
