ABOUT

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Project Background

In 2011 there were approximately 385,100 small businesses operating in BC, employing over one million British Columbians and accounting for 98% of all businesses in BC.

Recent trends have shown a dramatic trend of small business owners closing their doors at the time of retirement. Venture Connect’s research indicates about 25% of all small businesses will be looking to exit within the next five years and with about 1/3 of those electing to just close their doors. Thus removing those products and services and potentially making them unavailable to residents in the areas served by those companies.

The purpose of this project is to help educate people on the steps required for successful transfer of business ownership. This is presented as a starting point or stepping stone to business succession. While a variety of topics and a breadth of information is covered we highly recommend seeking legal and accounting advice early on in the process. Each person’s business objectives are unique and a professional can best tailor advice to your specific needs.

This curriculum provides the skills for new entrepreneurs to successfully transition to business ownership while owners looking to transition out of their business will benefit from learning how to transfer the operating knowledge of their business to a new owner.

Learners will have opportunities to engage with case studies within each module, view interactive content, and have opportunities to make connections between their own context and the examples in order to acquire the knowledge and skills required for success.

Project Objectives

  1. Increased retention of jobs and workers within our community
  2. A clear and comprehensive step by step curriculum to simplify the process of business succession
  3. The availability of this curriculum to anyone in the province via a workbook format, or through an online version

Project Partners

This project was funded by the Ministry of Jobs, Tourism and Skills Training, Labour Market Programs Branch of the Province of British Columbia. Our partners all have vested interest in the continuation and the growth of small business in Kamloops and region for the sustainability of healthy economies and communities:

  • Thompson Rivers University
  • Venture Kamloops
  • Business Development Bank of Canada (BDC)
  • KPMG
  • Kamloops Chamber of Commerce
  • Small Business BC
  • Growth Strategy Dynamics
  • Community Futures
  • BC Chamber of Commerce
  • Pacific Business Brokers
  • Forward Law
  • THRIVE Business Strategies
  • Edward Jones

Who can Use this Resource?

This resource is freely available to anyone with internet access. The resource was developed for entrepreneurs and business owners in the province of British Columbia (BC).  If you are considering selling or buying a business outside of BC different rules and regulations may apply.

How Much Time Can I Expect to Spend?

This resource is meant to be completed in a linear fashion; however, it can easily be broken up into a variety of ways depending on your background, comfort level with the information, and focus. There is no time limit for completion of this resource. Each module is roughly 10 – 15 hours in length. We strongly recommend you take your time and and follow the links to gain more insight from experts and well established organizations in the field.

What are the Technical Requirements?

To complete this resource, you will need access to a computer with audio and video capability. You can also find print copies at your local Chamber of Commerce, Venture Kamloops businesses and Thompson Rivers University (Kamloops campus).

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Copyright © 2015 Thompson Rivers University. All rights reserved.

The content of this resource material is the property of Thompson Rivers University (TRU) and is protected by copyright law
worldwide. No part of this work may be forwarded or reproduced in any form by any means without permission in writing
from the Intellectual Property Office, Thompson Rivers University, copyright@tru.ca.

TRU seeks to ensure that any resource content that is owned by others has been appropriately cleared for use. Anyone
wishing to make additional use of such third party material must obtain clearance from the copyright holder.

This project was funded by the Ministry of Jobs, Tourism and Skills Training, Labour Market Programs Branch of the
Province of British Columbia.

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Our partners, Thompson Rivers University, Venture Kamloops, Business Development Bank of Canada (BDC), KPMG,
Kamloops Chamber of Commerce, Small Business BC, Growth Strategy Dynamics, Community Futures, BC Chamber of
Commerce, Pacific Business Brokers, Forward Law, THRIVE Business Strategies and Edward Jones.

Resource Development Team

Tracy Penny Light, Executive Director, Centre for Student Engagement and Learning Innovation
Sukh Heer Matonovich, Interim Associate Director, Centre for Student Engagement & Learning Innovation
Alana Hoare, Continuing Education Coordinator, Community Engagement
Brian Lamb, Director, Innovation Open Learning

John O’Brien, Resource Writer
Prasad Ravi, Assistant Professor, School of Business and Economics, Resource Writer

Melissa Jakubec, M.A., Instructional Designer
Dani Collins, B.F.A and B.Ed., Editor
Bob Byrne, M.Ed., Curriculum Media Producer
Robline Forsythe, B.A., Graphic Designer

Print Production by: Open Learning Production Team

Thompson Rivers University
900 McGill Road
Kamloops, BC V2C 0C8

Image Credit:

  • StartupStockPhotos. (2015). Pixabay. Entrepreneur, startup, start-up, man, planning, business. Retrieved from http://pixabay.com/en/entrepreneur-startup-start-up-man-593358/License: CC0 Public Domain / FAQ
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