Ontario Invests Nearly $2M to Launch Business Succession Planning Hub
Succession Ontario business succession planning hub to help entrepreneurs protect jobs and communities
TORONTO — The Ontario government is investing nearly $2 million to launch Succession Ontario, the province’s first-ever centralized business succession planning hub aimed at helping entrepreneurs prepare for ownership transitions while protecting jobs and local economies.
The initiative, delivered by the Kingston Economic Development Corporation (KEDCO), is designed to support small and medium-sized business owners as they plan to sell, transfer or exit their businesses—an increasingly urgent issue as many owners approach retirement without formal succession plans.
According to the province, Succession Ontario will provide online tools and guidance to help business owners understand the legal, financial and operational requirements involved in transitioning ownership. The program also includes expanded training for Ontario’s 54 Small Business Enterprise Centres (SBECs), enabling them to offer one-on-one succession planning advice in communities across the province.
A pleasure to join the Economic Developers Council of Ontario at their 69th Conference.
Happy to share we’re investing nearly $2M to launch Ontario’s first-ever succession planning services hub to help entrepreneurs sell or buy a business.
🔗: https://t.co/mxG4OAxqoR pic.twitter.com/gLcW3FbYYO
— Nina Tangri (@ninatangri) February 3, 2026
Supporting Small Businesses Through Ownership Transitions
The investment was first announced in the 2025 Ontario Budget: A Plan to Protect Ontario and aligns with the province’s broader strategy to strengthen economic resilience, protect workers and ensure continuity for locally owned businesses.
Government data shows that only one in 10 small business owners in Canada currently has a formal succession plan, despite small businesses accounting for roughly 98 per cent of all businesses in Ontario and employing nearly 2.5 million people.
The province says improved succession planning will help prevent unnecessary closures, retain jobs and ensure businesses remain rooted in their communities when ownership changes hands.
Province-Wide Delivery Through SBEC Network
Following a competitive call for proposals in August 2025, KEDCO was selected to lead Succession Ontario based on its experience delivering economic development and business advisory programs.
As part of the rollout, SBECs will receive specialized training and resources to strengthen their capacity to guide entrepreneurs through succession planning locally. In the 2024–25 fiscal year alone, Ontario’s SBEC network helped start more than 8,000 businesses, supported the expansion of 2,700 businesses, and contributed to the creation of over 15,800 jobs.
Building Economic Resilience
The launch of Succession Ontario comes amid ongoing economic pressures, including U.S. tariffs affecting several key sectors. The Ontario government says the initiative complements broader measures to lower taxes, reduce red tape and support small businesses during periods of economic uncertainty.
By helping businesses successfully transition ownership rather than close, the province aims to preserve jobs, sustain local economies and maintain Ontario’s competitiveness within the G7.
Additional information about the program is available through Succession Ontario and Ontario’s Small Business Enterprise Centres.
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