MRC Rivière-du-Loup — Business Succession
grant_single|update January 25, 2025
QC, Canada
Support for business acquisition in Quebec regions
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Rivière-du-Loup
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Programme d’aide financière aux entrepreneurs provides up to $15,000 in funding, covering up to 50% of eligible costs, to assist entrepreneurs in acquiring businesses in Quebec. Eligible activities include due diligence, preparation of acquisition agreements, and professional fees for experts necessary in business succession projects.
grant_single_labels|terms_and_conditions
This grant provides financial support for entrepreneurs looking to acquire businesses, focusing on covering specialist costs associated with business succession. The funding aims to facilitate smooth transitions by sharing financial burdens with the entrepreneur.
- Co-financing of up to 50% of eligible expenses, capped at a maximum of $15,000 per recipient, excluding taxes.
- Funds are allocated through the MRC or delegated organization, as authorized by the Fédération québécoise des municipalités (FQM).
- Expenses incurred prior to the application submission date are not eligible for funding.
grant_single_labels|projects
This grant facilitates the acquisition of businesses in Quebec by covering specific professional service costs related to business succession. The support provided helps both future entrepreneurs and experienced professionals transition businesses effectively.
- Due diligence procedures to ascertain the fair market value of a business.
- Drafting of business succession agreements.
- Professional fees for experts such as accountants, lawyers, notaries, and HR specialists involved in business takeover projects.
grant_single_labels|admissibility
The eligibility criteria for a company to apply for this grant focus on the legal status, location, and affiliation with specific financial support.
- The company to be acquired must be legally constituted under the laws of Quebec or Canada and have a physical establishment in Quebec.
- If the acquirer is not incorporated, they must be a Canadian citizen or a permanent resident.
- The acquirer must be linked to a project that has received financing from a Local Investment Fund (FLI) of the corresponding MRC or a municipality exercising MRC powers.
- The cumulative reception of public support of the same nature for a single project will be refused.
- The professional engaged for company assessments must possess expertise relevant to business succession projects.
grant_eligibility_criteria|who_can_apply
Any entrepreneur who has obtained financing from a Local Investment Fund (FLI) managed by a Regional County Municipality (MRC) or a municipality exercising MRC powers, and who wishes to acquire a legally constituted business in Quebec. The entrepreneur could be a family member, one or more employees, external buyers including collective takeovers.
grant_eligibility_criteria|eligible_expenses
The grant supports specific expenses related to the acquisition of a business.
- Costs of due diligence to determine the fair market value of a business.
- Preparation of the business acquisition agreement.
- Professional fees of specialists (accountants, lawyers, notaries, human resources specialists, etc.) with expertise in business succession projects.
grant_eligibility_criteria|zone
This grant primarily focuses on businesses operating within regions covered by a regional county municipality (MRC) or its equivalent that exercises MRC powers in Quebec. Eligible geographical areas are therefore confined to specific regions in Quebec with access to a local investment fund (FLI) from their MRC.
- Businesses in municipalities or MRCs with an active local investment fund (FLI) in Quebec.
grant_single_labels|apply
1
Eligibility Verification
- Ensure that the company to be acquired is legally established in Quebec.
- Check that the buyer has obtained financing from a FLI.
2
Preparation of the necessary documents
- Assemble all documents related to the due diligence and professional fees.
- Ensure that all expenses incurred prior to the claim are excluded from the calculation of eligible costs.
3
Writing the request
- Complete the financial assistance application form.
- Include all details required by the FQM.
4
Submission of the application
Send the completed form and supporting documents to the MRC or the delegated organization.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The programme primarily aims to support the entrepreneurial succession in Quebec regions, emphasizing the importance of local economic vitality.
- Applicants must ensure that expenses related to the services mentioned are incurred after the submission date of the financial aid application form to be considered eligible.
- The grant provider emphasizes collaboration with local economic development stakeholders for comprehensive support.
- Applicants can seek assistance and further clarifications from their respective municipal or regional county municipality (MRC) development services.