As stated in a release from the organization, Nina Tangri, Associate Minister of Small Business, made the announcement at the Economic Developers Council of Ontario Conference in Toronto, which ran from Monday, Feb. 2 to Wednesday, Feb. 4, 2026.
To aid in this planning process, Small Business Enterprise Centres (SBECs) across the province will receive training and resources to build their knowledge and skills for providing personalized advisory services within their communities, according to a release from the government of Ontario.
Ontario boasts over 500,000 small businesses employing more than 3.5 million people as noted by Kingston Economic Development. It’s anticipated that up to 76 percent of small business owners will look to transition their businesses in the next ten years; however, according to research titled ‘Succession Tsunami‘ by the Canadian Federation of Independent Business, only one in ten have a formal succession plan in place.
“Whether it’s a family farm in Prince Edward County or a local convenience store in Sarnia, a small business can leave a lasting positive impact in their community when smoothly bought, sold or passed to the next generation,” Nina Tangri said in the release.
“As many business owners prepare to retire over the next decade, our government is helping them plan for the future so their businesses can continue thriving under new leadership.”
The province noted that after an August 2025 call for proposals from SBECs, Kingston Economic Development Corporation was chosen based on its strong track record and experience delivering effective succession planning services.
In 2021, Kingston Economic Development initiated a specific program aimed at aiding succession planning by offering advisory services for small business owners as they navigate transitions. The success seen during this initiative led to Kingston being selected as a provider for this provincial program due to their ability to support transitions without service interruptions.
“We are honoured to have been selected by the Province to lead Succession Ontario; it’s their first-ever hub focused on business succession planning,” said Donna Gillespie, CEO of Kingston Economic Development Corporation.
“Kingston has benefitted (sic) from our work in transition planning over these past five years and we’re eager to share our expertise with colleagues at Small Business Enterprise Centres across Ontario. Ensuring our small businesses and the jobs they create stay within our communities is vital.”
Succession Ontario marks the first centralized hub for business transitions established by the province. The website features various modules and resources designed specifically for assisting small business owners with their succession plans while outlining what they can expect throughout this process. Additionally, workshops will be available for Small Business Enterprise Centre advisors so they can effectively guide owners during transitions. Ongoing live virtual workshops covering key topics will be provided regularly led by industry professionals.
The program also includes collaboration with Succession AI-a woman-led startup based in Toronto specializing in business succession planning. Succession AI has developed an automated tool that estimates valuations for businesses through analysis based on location details along with similar nearby companies and basic financial information. This tool is accessible free of charge to all residents of Ontario via the Succession Ontario platform.
<p“ We are honoured to partner with Kingston Economic Development to help small business owners get exit-ready with clarity and confidence,” said Avril Sun, Founder and CEO of Succession AI.
“When business owners have access to valuable tools early on they can increase exit value anywhere between 50% -70% for themselves and contribute positively toward families as well as overall economic health.”
Kingston Economic Development also announced its partnership with Smith School Of Business At Queen’s University where they’ll provide micro-credentials tailored specifically towards SBEC advisors. According To The Release , These Micro-Credentials Will Be Delivered By Experienced Professors Combining Practical Expertise Alongside Academic Knowledge So Advisors Are Well Prepared For Their Role In Facilitating Successful Transitions.
“Queen’s Executive Education At Smith School Of Business Is Excited To Team Up With Kingston Economic Development Corporation To Create And Provide Training On Succession Planning For SBEC Advisors Across Ontarion As Part Of This Innovative Program,” Said Elspeth Murray Director Of Entrepreneurship Innovation & Social Impact At Smith School Of Businss At Queen’s University.
If You Want More Information About Succession Ontarion And Access Helpful Resources For Planning Your Transition Visit Successsionontario. ca.
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