Transforming businesses into co-ops to also be explored

SUMMERSIDE – May 4, 2018 – All French-speaking entrepreneurs who are thinking about the succession of their business as well as all those who provide support services to businesses are invited to participate in the free “Preparing for the Succession of Our Business” Community Development Forum Wednesday, May 23, from 9:30 a.m. to 2:30 p.m. at the Centre Belle-Alliance in Summerside.

Among other things, participants will get to hear testimonials from two Island businesses that have recently gone through the sales and succession process. Henri Gallant from HMS Office Supplies of Summerside will explain the steps he undertook to transfer his company to his son Pierre. Réjeanne Arsenault will share the process she went through to sell her Bottle Houses tourist attraction in Cape Egmont to Angie Cormier.

Organizers will also speak about the concept of succession by the co-operative method. In New Brunswick and Quebec especially, more and more groups of workers are incorporating themselves as worker co-ops to buy businesses from their retiring bosses. The process that is required for such a project will be explained.

The forum is therefore aimed at entrepreneurs looking to retire and transfer their business to a family member or other buyer. But organizers also want to present the various succession options to all stakeholders who deliver services to businesses and co-operatives: creditors, accountants, bankers, lawyers, consultants, economic development officers, union representatives, civil servants and community leaders.

The Coopérative de développement régional – Acadie of New Brunswick is organizing this forum, with help from Island partners RDÉE PEI, the Acadian and Francophone Chamber of Commerce of PEI and the Wellington Rural Action Centre. The event is sponsored by the Atlantic Canada Opportunities Agency and the Government of New Brunswick.

A lunch will be served. Registration is free, but those wishing to participate must register by May 17 by sending an email to info@cdracadie.ca or by calling 1-506-727-6377.

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CUTLINE: Réjeanne Arsenault as well as Henri and Pierre Gallant will speak about the succession of their respective business during the “Preparing for the Succession of Our Business” Community Development Forum May 23 in Summerside.

 

For more information:

Marc Henrie
Executive director
Coopérative de développement régional – Acadie
1-506-727-6377
info@cdracadie.ca

 

Raymond J. Arsenault
Event coordinator
Acadian and Francophone Chamber of Commerce of PEI
1-902-854-3439, Ext. 231
raymond@rdeeipe.org