MRC du Granit — Business Succession Program
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.
Overview
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.
At a glance
Funding available
- Reduce environmental footprint
- Maximum amount : 15,000 $
- Up to 50% of project cost
Eligible candidates
- All industries
- Le Granit
- Estrie
- Quebec
- For-profit business
- Social economy enterprise
- Sole proprietorship
- All revenue ranges
- All organization sizes
- Rural or Northern Residents
- Canadians
Next Steps
Activities funded
- 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
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
- Step 1: Confirm Eligibility
- Ensure you are an entrepreneur benefiting from a Fund local d’investissement (FLI) through the MRC du Granit.
- Verify that you intend to acquire a legally constituted enterprise within Quebec.
- Step 2: Gather Documentation
- Collect all necessary documents outlining the acquisition plan and justification for financial support.
- Prepare detailed verification reports, agreements, and professional service quotes related to the acquisition.
- Step 3: Complete Application Form
- Fill out the financial aid application form available through the MRC du Granit or relevant municipal body.
- Ensure all information aligns with the requirements as stated by the MRC du Granit.
- Step 4: Submit Application
- Send the completed application and all accompanying documents to the MRC du Granit's office.
- Use the contact information provided (address, email, phone) for any application queries.
- Step 5: Await Response
- Wait for the MRC or the designated body to review your application and inform you of their decision.
- Maintain contact with the MRC for updates on the application status.
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.