The Ontario government is investing nearly $2 million to establish the province’s first business succession planning services hub, aimed at helping entrepreneurs prepare for ownership transitions while protecting jobs and strengthening local communities.
The funding will support the launch of Succession Ontario, an online hub delivered by the Kingston Economic Development Corporation that provides tools and resources to help business owners understand the process of selling or exiting a business. As part of the initiative, Small Business Enterprise Centres across Ontario will receive training and resources to deliver one-on-one succession planning advisory services in their local communities.
“Whether it’s a family farm in Prince Edward County or a local convenience store in Sarnia, a small business can leave a lasting positive impact in their community when smoothly bought, sold or passed to the next generation,” said Nina Tangri, Associate Minister of Small Business. “As many business owners prepare to retire over the next decade, our government is helping them plan for the future, so their business can continue to thrive under new leadership.”
Succession Ontario was first announced in the province’s 2025 budget, A Plan to Protect Ontario, and is part of a broader effort to support small businesses, strengthen local economies, and drive long-term economic growth.
“Ensuring that businesses and the jobs that they create stay in our local communities is a top economic priority,” said Donna Gillespie, CEO of the Kingston Economic Development Corporation. “We’re proud to partner with the province and our network of 54 Small Business Enterprise Centres to deliver the training and tools entrepreneurs need to plan for the future and protect Ontario’s economy.”
The province says the investment comes as businesses face economic pressures, including the impact of U.S. tariffs on key sectors. Ontario officials say the government is responding by lowering taxes, cutting red tape and making targeted investments to help small businesses succeed and keep the provincial economy competitive.
Ontario is home to more than 500,000 small businesses, which account for about 98 per cent of all businesses in the province and employ nearly 2.5 million people. The province notes that only one in 10 small business owners in Canada currently has a formal succession plan in place.
