Business succession

Find out more about buying an existing business and about entrepreneurial and business succession

For more information on the challenges of business succession in Quebec, see the study from the Board of Trade of Metropolitan Montreal commissioned by the Fonds de solidarité FTQ. 

The business succession to the next generation : a major challenge for the Quebec economy and sustainability of SME

Resource list

On this page, you’ll find resources that will help you learn more about buying an existing business.

Business Succession

  • Between now and 2020, an estimated 98,000 entrepreneurs will be retiring for only 60,000 potential new owners, a shortfall of 38,000 owners over the next few years. This means that opportunities to become your own boss will continue to increase!
  • Each person has his or her own unique profile and business acquisition type! An entrepreneur who takes over a family business understands the workings of business succession very well and wants to grow the business moving forward. A takeover executive first works for an employer then considers taking over the company’s reins at the appropriate time. It takes a true entrepreneur to take over an existing business, and such an individual usually looks to buy a business that offers challenges and potential that are commensurate to his or her goals.
  • Buying an existing business means bypassing “Go” and leaping directly into the fray as a manager. The risk is more calculated than in the case of a no-guarantees start-up. Moreover, most transferred businesses are far from being insolvent: some offer exceptional opportunities in terms of business and financial plans as well as on the human level. They have a client base, employees, and know-how, so the way has already been cleared in many respects. All that’s missing is a good manager to optimize business performance.
  • It is possible to take over an existing business in a number of different industries, such as retail sales, agriculture, real estate, goods manufacturing, and personal and business services. You get to decide which industry suits you best!
  • You don’t need a fortune to buy an existing business. Numerous financing sources and options exist to help you with your project. Find out more!
  • In 2014, only 17.5% of Quebeckers who started their own business chose to take over or buy out an existing business. Yet, buying a business has many advantages and can be just as stimulating as launching a start-up from scratch.