MRC du Granit — Business Succession Program

• The aid offered covers up to 50% of the total costs, with a maximum limit of $15,000 per beneficiary, excluding taxes.
• Eligible costs include due diligence to determine the fair market value of a business, preparation of the business acquisition agreement, and professional fees from specialists (such as accountants, lawyers, notaries, and HR specialists) who are qualified to engage in business succession projects.
• The sum authorized by the FQM is paid by the MRC or delegated organization according to established terms.
• Expenses incurred before the submission date of the application for financial aid, whether paid or unpaid, are excluded from eligible expenses.

• The entrepreneur must benefit from financing through a Fonds local d'investissement (FLI) of the MRC or a municipality exercising MRC powers.
• The intention is to acquire a legally constituted company in Quebec.
• The company to be acquired must be legally constituted under the laws of the Government of Quebec or Canada and have an establishment in Quebec.
• If the acquirer is not incorporated, they must be a Canadian citizen or permanent resident.
• The project could also be supported by the Fonds local de solidarité (FLS); however, the accumulation of similar public assistance for the same project is not allowed.
• The involved professional for company verifications must have expertise enabling them to contribute to a business succession project.

Who is eligible?

The MRC du Granit Business Succession Program is available to entrepreneurs who are recipients of financing from a Fonds local d'investissement (FLI) of the MRC du Granit. Eligible candidates include those wishing to acquire a legally constituted company in Quebec. The program welcomes applicants who are family members, employees, external buyers, or involved in collective acquisition. In addition, entrepreneurs must either be Canadian citizens or permanent residents if not incorporated. Participants must be linked to an FLI-funded project, and the enterprise to be acquired should have a legal establishment within Quebec.

Eligible expenses

• Due diligence to determine the fair market value of a business.
• Preparation of the business acquisition agreement.
• Professional fees for specialists, including accountants, lawyers, notaries, and human resources experts.

Eligible geographic areas

• MRC du Granit, Quebec, Canada.

• The entrepreneur must not have incurred or paid any expenses before submitting the application for financial aid, as these are not eligible for reimbursement.
• The maximum financial support available through the program is $15,000 per beneficiary, covering up to 50% of total eligible expenses, excluding taxes.