Montréal, April 15, 2014 – The Fonds de solidarité FTQ and the Board of Trade of Metropolitan Montreal are pleased to partner to introduce the RDV Relève inc.™, an annual provincial initiative to address the issue of entrepreneurial succession.
Québec is in danger of losing thousands of businesses. This will be a growing trend in the coming years, as 30% of business owners are planning to take their retirement in the next decade, and half of them have no plans to sell or pass on their business. This is why the Board of Trade and the Fonds de solidarité FTQ are for the first time offering a series of activities in three regions of the province, from June 3 to 5, to raise awareness about, promote and enable the transfer of companies.
“The issue of entrepreneurial succession and the transfer of businesses is critical now more than ever for the economy of Québec and Montréal,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “We are finding that transferring business ownership is a process that owners plan too little for and that too often ends in failure. This could have particularly serious economic repercussions. There are already too few businesses being created in Québec. On top of this, we can’t afford to lose thousands of SMEs, which have no succession in place. It’s time we assembled key stakeholders and proposed concrete measures to support the transfer process.”
“Ensuring business continuity is a priority for the Québec economy,” said Gaétan Morin, Executive Vice-President, Corporate Development and Investments, at the Fonds de solidarité FTQ. “But entrepreneurial succession ― an essential part of the issue ― is a major challenge. The Fonds de solidarité FTQ has always shown leadership when it comes to succession by offering patient capital to facilitate the transfer of a business. But capital alone is not enough. Awareness about the complex issues surrounding entrepreneurial succession is also required. This is why it made sense for the Fonds de solidarité FTQ to partner with the Board of Trade of Metropolitan Montreal for this event.”
Comprised of three main parts, the RDV Relève inc.™ will kick off on Tuesday, June 3 with a press conference releasing the results of a study conducted by the Board of Trade, sponsored by the Fonds de solidarité FTQ with the support of Raymond Chabot Grant Thornton. This study will offer a status report, evaluate the economic and social costs of failing to transfer businesses and analyze the key players that support this effort in Montréal and elsewhere in Québec. The study will also analyze the challenges and success factors associated with transferring businesses and propose avenues to reinforce entrepreneurial succession in Québec.
The RDV Relève inc.™ will also feature a business luncheon showcasing a success story of a business transfer and an activity based on the concept of the international hit TV show Dragon’s Den: the “Défi repreneurs,” organized in partnership with the Centre de transfert d’entreprises de Montréal.
RDV Relève inc.™ activities will continue in the Montérégie (June 4) and Québec City (June 5) areas, in partnership with the Chambre de commerce et d’industrie de Beauharnois-Valleyfield, the Chambre de commerce et d’industrie de Québec and the business transfer centres for the two regions.
The RDV Relève inc.™ is a joint initiative of the Fonds de solidarité FTQ and the Board of Trade of Metropolitan Montreal, presented by Raymond Chabot Grant Thornton, in partnership with Lavery.
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive the Québec economy. With net assets of 9.7 billion dollars as of November 30 2013, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in 2,400 companies. With over 615,000 shareholders-savers, the Fonds helps create, maintain or protect over 170,000 jobs. For more information, visit www.FondsFTQ.com.
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
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Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Tel.: 514 850-4835
Cell.: 514 703-5587