Press Release: BDCC To Offer Free Business Buyers/Sellers Working Groups
Brattleboro, Vermont – Southern Vermont – Are you thinking about buying a business, selling a business, or transitioning a business to employee ownership? You’re invited to attend a free, three-part Working Group, co-hosted by BDCC and the Vermont Employee Ownership Center (VEOC) and supported by Vermont Small Business Development Center (VtSBDC) and statewide specialty advisor, Sergio Alvares.These Working Groups are intended to help small business buyers and sellers know their options, ask the right questions, and avoid critical mistakes.
If you’re wondering whether it’s time to start thinking about your business transition, the answer is: it’s never too early. Programs and initiatives across the country, such as the North East Transition Initiative (NETI), highlight alarming statistics about the challenges of transitioning businesses to new ownership. Over 200,000 small business owners in New England and New York State are planning to retire in the next few years, yet only 20% of them have a plan for what to do with their businesses when they retire.
The Sellers Working Group will help attendees understand the various steps of selling or transitioning a business, including how to establish a rule-of-thumb valuation for the business, create a sell sheet, get the word out, and learn about financing options available to potential buyers or employees. These in-person sessions will take place on three successive Wednesdays, January 29, February 5, and February 12, from 12:00-2:00pm in BDCC’s Instig8 Room, 76 Cotton Mill Hill in Brattleboro. They will be offered again virtually starting in late April and registration is open for both the in-person and online options now.
The Buyers Working Group consists of three, 90-minute, small-group sessions with the possibility of one-on-one counseling. The goal is to help business buyers learn how to assess the valuation of a business, perform realistic sales projections, and understand the financing options available in Windham County. These in-person sessions will also take place on three consecutive Wednesdays, February 19, February 26, and March 5, beginning at 5:45 pm, in BDCC’s Instig8 Room, 76 Cotton Mill Hill in Brattleboro. They will be offered again virtually in mid-May and registration is open for both the in-person and online options now.
This series is part of BDCC’s commitment to fostering a resilient and diverse business community. It renews our focus on addressing the avoidable job losses caused by business closures due to owner retirement. Funded in part by a 2024 Rural Cooperative Development Grant (RCDG) from the U.S. Department of Agriculture (USDA), the series will cover a wide range of transition strategies to identify businesses at risk of closure or transition, while providing targeted technical assistance to prevent closures and promote cooperative formation as a key aspect of our business transition mission.
Space in both Working Groups is limited: priority will be given to those who commit to attending all three sessions. To register for the Sellers Working Group and/or Buyers Working Group, visit https://brattleborodevelopment.com/reorganization-and-succession/.
About BDCC
The Brattleboro Development Credit Corporation (BDCC) is a private, nonprofit economic development organization with the mission of investing in the drivers of the regional economy so that people, businesses, and communities in Southern Vermont can thrive. BDCC serves as the State of Vermont’s certified Regional Development Corporation (RDC) for the greater Windham County area (including Windham County and the towns of Readsboro, Searsburg, Winhall and Weston). BDCC is one of 12 RDCs throughout Vermont. BDCC activity is made possible in part by a grant from the State of Vermont through the Agency of Commerce and Community Development. For more information visit https://brattleborodevelopment.com/.
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