The Ontario government is investing nearly $2 million to create the province’s first business succession planning services hub to help entrepreneurs prepare for ownership transitions.
Succession Ontario, delivered by the Kingston Economic Development Corporation, provides online tools and resources to help business owners understand the requirements for selling or exiting their businesses. Small Business Enterprise Centres across the province will receive training to deliver one-on-one advisory services in their local communities.
“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,” said Nina Tangri, Associate Minister of Small Business.
Addressing succession planning gap
Only one in 10 small business owners in Canada have a formal succession plan, according to the province. The new hub aims to address this gap as businesses prepare for generational transitions.
The Kingston Economic Development Corporation was selected to deliver the program following an August 2025 call for proposals, scoring highest for its track record in succession planning services.
“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.”
Supporting small business employment
Ontario has over 500,000 small businesses, accounting for approximately 98 per cent of all businesses and employing nearly 2.5 million people. The province’s 54 Small Business Enterprise Centre locations helped start over 8,000 businesses, expand 2,700 and create more than 15,800 jobs in 2024-25.
The initiative was first announced in the 2025 Budget, A Plan to Protect Ontario. The government says the program will help strengthen local economies and maintain jobs as businesses transition to new ownership.
