MRC Beauce-Centre — Business succession
QC, Canada
Financial aid for entrepreneurs acquiring Quebec businesses
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Grant and Funding
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- MRC Beauce-Centre
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The "Relève entreprise" grant offers financial assistance up to a maximum of $15,000 to entrepreneurs benefiting from a Fonds local d’investissement (FLI) loan to support the succession or transfer of businesses in the MRC Beauce-Centre. Eligible activities include due diligence for market value assessment, preparation of business transfer agreements, and professional fees for specialists involved in business succession projects.
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This grant supports activities related to the acquisition or transfer of businesses within the MRC Beauce-Centre, aiming to assist entrepreneurs in performing necessary due diligence and legal processes. It mitigates part of the costs involved with professional services crucial for business succession or acquisition.
- Conducting due diligence to determine the fair market value of a business.
- Preparing the business succession agreement.
- Covering professional fees for accountants, lawyers, notaries, and human resources specialists with expertise in business succession projects.
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The eligibility for this grant is based on specific requirements related to the entrepreneur and the business to be acquired.
- The entrepreneur must benefit from financing by a Local Investment Fund (FLI) from an MRC or a municipality exercising MRC powers.
- The business to be acquired must be legally constituted in Quebec.
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The grant covers specific expenses incurred in the process of acquiring a business through financial support for specialized services.
- Due diligence services to determine the fair market value of a business.
- Preparation of the business acquisition agreement.
- Professional fees for specialists such as accountants, lawyers, notaries, and human resource experts involved in the business succession project.
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This funding is targeted at entrepreneurs wishing to acquire businesses located in a specific regional setting. Eligible businesses must be legally constituted and situated within Quebec.
- Companies located within the province of Quebec.
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Here are the steps to apply for the Relève entreprise grant:
- Step 1: Validate Eligibility
- Contact Diane Pouliot to confirm your eligibility for the grant.
- Email: diane.pouliot@bceconomique.com
- Phone: 418 397-4354, extension 223
- Step 2: Prepare Application Package
- Gather all necessary documentation demonstrating alignment with the grant criteria, such as proof of FLI funding.
- Prepare documents related to the business you intend to acquire, including legal documentation and valuation details.
- Compile a list of professional services required and obtain corresponding quotes if necessary.
- Step 3: Submission of Application
- Submit your complete application package to the designated contact point or procedure provided by the funding source.
- Step 4: Response from Funding Body
- Await confirmation or further instructions following the submission of your application.
- Address any additional requests for information or documentation promptly.
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Here are additional relevant details for this grant:
- The aid will cover up to 50% of the eligible expenses, with a maximum of $15,000 plus taxes per beneficiary.
- The grant is specifically intended to aid in the acquisition process of a business, emphasizing diligence and professional advisory costs.
- The public aid for projects of a similar nature cannot be combined, to avoid overlapping financial support for the same initiative.
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diane.pouliot@bceconomique.com
418
Apply to this program
Support for Business Succession in Quebec
The "Relève entreprise" grant offers financial assistance to entrepreneurs involved in succession or business transfers within the MRC Beauce-Centre region. It is designed to facilitate the acquisition of businesses by alleviating part of the due diligence and professional service costs associated with business transfer projects.
In-Depth Insight into the "Relève entreprise" Grant Details
The "Relève entreprise" grant program plays a pivotal role in supporting the continuity of local businesses within Quebec, aiming to strengthen regional economies by aiding in seamless business transitions. Targeting entrepreneurs who are beneficiaries of financing from FLI, the program ensures that succession processes do not face unnecessary financial barriers. With its focus on covering a part of the expenses related to essential professional services, such as due diligence and drafting of business transfer agreements, this grant contributes significantly to the sustained presence of businesses in the area.
Entrepreneurs looking to take over established companies in the MRC Beauce-Centre can use this grant to offset costs that might otherwise impede successful transitions. Legal, financial, and human resources expertise is often needed during such transfers, and the grant covers up to 50% of the related costs, capping at $15,000 per beneficiary. This approach not only enables smooth ownership transitions but also reduces the financial burden on new business owners, ensuring that they can focus more on maintaining and growing the business than worrying about upfront costs.
By aiding in the proactive and careful evaluation of target businesses, the grant helps verify fair market value and ensures the drafting of comprehensive legal agreements. These services are crucial in preventing potential disputes and ensuring that new owners are adequately informed and prepared for their roles. The focus on legal and financial diligence underscores the grant's commitment to fostering robust and sustainable business environments where enterprises can thrive under new leadership.
The grant is particularly beneficial in rural and smaller urban settings, where entrepreneurial succession can bolster local employment and economic resilience. By assisting entrepreneurs in these regions, the program also addresses demographic challenges by incentivizing business continuity and reducing the risk of potential business closures due to a lack of successors. Thus, the "Relève entreprise" grant not only facilitates immediate transitions but also contributes to the long-term economic health of the MRC Beauce-Centre region.
In addition, the grant emphasizes inclusivity and accessibility. Entrepreneurs, whether individuals or corporate entities, who meet the basic eligibility criteria, can receive support. By bridging financial gaps, the program empowers a diverse range of successors, including younger entrepreneurs or those who may not have extensive capital reserves, thereby promoting a diverse entrepreneurial ecosystem.
Furthermore, the program is meticulously designed to prevent overlapping public funding, ensuring that resources are allocated efficiently and ethically. Projects already gaining financial support in other forms are assessed to maintain a fair distribution of available funds, thereby optimizing the overall social and economic benefits generated by the program.
Entrepreneurs interested in applying are encouraged to reach out to program administrators to confirm their eligibility and begin the application process. Through strategic financial assistance and expert guidance, the "Relève entreprise" grant serves as a cornerstone in Quebec's efforts to support sustainable business growth and continuity, ensuring that local enterprises continue to act as vital contributors to the regional economy.
