Brattleboro, VT – Are you thinking about buying a business, selling a business, or transitioning a business to employee ownership? Brattleboro Development Credit Corporation will be hosting a series of Southern Vermont Business Transition Workshops starting on October 15th. Designed for individuals interested in buying, selling, or transitioning a business, these workshops will 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 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. BDCC staff are currently working with over 30 local businesses and aspiring entrepreneurs seeking pathways to transition and while not all public knowledge yet; our efforts in the last year have supported 7 businesses who are currently changing hands and keeping their doors open through succession. Some recent transitions supported by BDCC are Temple Chiropractic (read the story here) and Putney Winery (read the story here).
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, understand pathways for identifying viable successors, and learn about financing options available to potential buyers or employees. Participants will explore multiple pathways to making their next move out of ownership including public sale, private acquisition and transitions to employee or cooperative ownership structures.
The Buyers Working Group is meant 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. This will be held as a small-group session with the possibility of one-on-one counseling.
The Sellers Working Groups will meet on three consecutive Wednesdays: October 15, October 22, and October 29.
The Buyers Working Group will meet on Wednesday, November 12.
All workshops will be hosted at the Cotton Mill in Brattleboro, with a hybrid option available for those who prefer to attend virtually.
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/.
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.
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/.
About BDCC Next
BDCC presents a suite of services, programs, and ecosystem development activities focused on businesses in transition. BDCC Next is the region’s center for quality reorganization and succession training, services, and support. Our business transition-focused programming strategically supports business owners with exit planning processes, supports aspiring entrepreneurs in their journey to take over a business, and provides pathways for sufficient capital and financing options that make it possible for potential buyers to acquire rural businesses. In 2024 BDCC received a Rural Cooperative Development Grant (RCDG) from the U.S. Department of Agriculture (USDA) program to expand cooperative business services in Southern Vermont as part of our transition efforts. This initiative will identify businesses at risk of closure or transition and provide targeted technical assistance to avert closures and increase cooperative formation. https://brattleborodevelopment.com/reorganization-and-succession/
