The Ontario government is investing nearly $2 million to establish the province’s first dedicated business succession planning services hub, aimed at helping entrepreneurs prepare for smooth ownership transitions. The initiative, known as Succession Ontario, is designed to support business owners in selling, buying, or transferring businesses while protecting good-paying jobs and strengthening local communities across Ontario.
Succession Ontario is being delivered by the Kingston Economic Development Corporation and operates as an online platform offering practical tools and resources to guide entrepreneurs through the complex process of exiting or transferring ownership. To ensure local support, Small Business Enterprise Centres across the province will receive specialized training and resources, enabling them to provide personalized, one-on-one advisory services within their communities.
The initiative responds to the growing need for succession planning as many small business owners approach retirement in the coming decade. By helping owners plan ahead, the province aims to ensure that businesses such as family farms, local shops, and community enterprises continue to thrive under new leadership and remain rooted in their local economies.
First announced in Ontario’s 2025 budget, the program reflects the government’s broader strategy to protect businesses, workers, and communities while fostering long-term economic growth. Succession Ontario supports job creation, strengthens regional economies, and enhances the province’s overall economic resilience and competitiveness.
Amid external pressures such as U.S. tariffs affecting key sectors, Ontario continues to focus on supporting small businesses through targeted investments, reduced red tape, and a more business-friendly environment. By helping entrepreneurs succeed and plan for the future, the province aims to position Ontario as one of the most competitive places in the G7 to invest, create jobs, and do business.
