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On May 21, the Chaleur Region’s business community came together under the Perspectives Series banner to confront one of our most urgent economic realities: business succession.

Hosted over breakfast, the session was both candid and energizing. Owners, entrepreneurs, economic development partners, and regional stakeholders discussed what’s at stake as many of our businesses face generational transition. The message was clear: succession is not a future problem—it is a present priority.

From Conversation to Action

The Chaleur Region is home to businesses that are deeply woven into our social fabric—some operating for decades, family-run, and employing generations of locals. Yet, many of these business owners are nearing retirement without a clear plan for succession.

As shared at the breakfast:

• Over 76% of Canadian SMEs plan to exit within 10 years, representing $2 trillion in assets [CFIB].

• 64% of business owners do not have formal succession plans [MNP LLP].

• The risk of closures, job losses, and economic erosion is real, especially in rural and semi-urban regions like ours.

In response, we continue to move forward with our Regional Social Media Awareness Campaign, inspired by the urgency highlighted on May 21, we are launching a social media awareness campaign on business succession—aimed at both current owners and the next generation of entrepreneurs.

The campaign:

• Highlights the human stories behind business transitions in the Chaleur Region

• Encourages early planning among business owners

• Showcases the opportunity for aspiring entrepreneurs to step into established businesses

• Reinforce the value of continuity, both economic and community-based

This campaign is a natural extension of the dialogue started at the Perspectives breakfast, and reflects our commitment to turning knowledge into momentum.

Why This Matters

Succession planning isn’t just a business issue—it’s a regional development priority. If we act now, we can:

• Retain local jobs

• Maintain essential goods and services

• Foster new leadership while preserving local legacy

• Strengthen investor and partner confidence in Chaleur’s economic sustainability

Join the Movement

We thank everyone who joined us on May 21 and invite all business owners, funders, and economic allies to stay involved as we bring this campaign to life.

We believe that with shared effort and strategic visibility, the Chaleur Region can become a provincial leader in successful business transition and renewal.

🔗 Learn more at Imagine Chaleur or by calling 506-542-2688 ext 114