How much funding can be received?

Funds up to 50% of admissible expenses, capped at $15000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the MRC du Granit — Business Succession Program?

MRC du Granit — Business Succession Program is funded by MRC du Granit

What are MRC du Granit — Business Succession Program's eligibility criterias?

The entrepreneur must have obtained financing through a Fonds local d'investissement (FLI) of the MRC or municipality exercising MRC powers. The business to be acquired must be legally incorporated under the laws of Quebec or Canada and must have an establishment in Quebec. If the successor is not incorporated as a company, they must be a Canadian citizen or permanent resident.

MRC du Granit — Business Succession Program

Last Update: February 23, 2025

QC, Canada

Supports business succession through specialized financial assistance

MRC du Granit — Business Succession Program at a glance

Eligible Funding

Max. $15,000
Up to 50% of project cost

Timeline

Continuous Intakes

Financing Type

Grant and Funding

Eligible Industries

All industries

Grant Providers

MRC du Granit

Status

Open

Overview of the MRC du Granit — Business Succession Program program

The MRC du Granit — Business Succession Program provides financial assistance of up to $15,000 to entrepreneurs acquiring a business in Quebec. The program supports eligible activities such as due diligence, preparation of business succession agreements, and professional fees.

Financing terms and conditions

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.

Eligible projects & activities

Acquisition of a part or the entirety of a legally constituted business in Quebec by eligible entrepreneurs.
Preparation of a business takeover agreement.
Due diligence to determine the fair market value of a business.
Professional fees for specialists such as accountants, lawyers, notaries, or HR experts involved in a business succession project.

Eligibility criteria of the MRC du Granit — Business Succession Program program

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.

How to apply to the MRC du Granit — Business Succession Program program

Verification of eligibility criteria

Make sure that the company to be taken over is legally established in Quebec.
Verify that you are a beneficiary of funding from a Local Investment Fund (FLI).

Preparation of the necessary documentation

Gather the legal documents proving the establishment of the company.
Prepare a detailed description of the takeover project including the specialized services required.

Search for professional partners

Identify and contact qualified professionals in due diligence, accounting, law, or human resources for your project.

Submission of the request

Fill out the financial assistance application form.
Ensure that all expenses to be covered are after the date of submission of the form.
Send the complete application to the MRC du Granit or to the delegated organization.

Contact and follow-up

Contact the MRC du Granit for any questions or additional information.
Make sure to have the contact details to follow up on your request.

Additional information

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.