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Press Release

County announces new program to support entrepreneurs looking to buy or sell a local business

 

Midhurst/ October 4, 2018 – The County of Simcoe joined area economic development partners today to announce the continuation of a funding stream for entrepreneurs and entrepreneurial activities in Simcoe County.                                                                        

The County has provided funding up to $100,000 for each of the past two years to the In-Market Special Project Fund and today confirmed up to another $100,000 will be made available for 2019. The fund is intended to introduce new and innovative approaches to supporting entrepreneurs in Simcoe County.

A significant portion of the 2018 and 2019 funding will support a unique project called the Business Transition Matching Program. This program takes a proactive and innovative approach to helping local entrepreneurs market their business for sale, connect with potential investors in a confidential manner, and gain the necessary knowledge to make a successful transition. 

The Business Transition Matching project is receiving support from the County of Simcoe, as well as, many community partners like the Barrie Small Business Centre, City of Orillia RTO 7 and the Chippewas of RAMA First Nation. The project is being delivered through the Orillia CDC Area and Nottawasaga Futures in South Simcoe. The project has been awarded $50,280 in 2018, with a pre-commitment of a further $50,280 in 2019 from the County's Fund. The project's importance is reinforced, as national data shows that forty per cent of our entrepreneurs are looking to transition out of their business in the next five years.

“The County is pleased to continue to invest in our entrepreneurs, businesses and our economy," said Deputy Warden Terry Dowdall. “We're particularly proud to support the Transition Matching project and demonstrate our leadership in this critical investment area as we provide additional support to help keep small to medium-sized businesses running, employing and contributing to our local economy."

More information about the Business Transition Matching Program can be found at: www.orilliacdc.com/business-transition-matching  

www.nottawasaga.com

Additional 2018 In-Market Special Project Fund recipients include:

  • Centre for Business and Economic Development and South Georgian Bay Small Business Enterprise Centre
  • Sandbox – Centre for Shared Entrepreneurship & Innovation
  • Lakehead University – Orillia Campus

 

About the County's In-Market Fund

The In-Market Special Project Fund is available to organizations to create partnerships and enhance service offerings in Simcoe County for area entrepreneurs.  All activities supported must be non-profit in nature.  2019 submission deadline is January 25, 2019. To qualify, at least one Small Business Enterprise Centre and one Community Futures Development Corporation must be partners in the project in the affected service area in which the project will take place. Applications are evaluated by the County's Economic Development Office with approvals from the County's Economic Development Sub-Committee and Committee of the Whole. To apply visit www.edo.simcoe.ca.

County of Simcoe is composed of sixteen member municipalities and provides crucial public services to County residents in addition to providing paramedic and social services to the separated cities of Barrie and Orillia. Visit our website at simcoe.ca

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Contacts:

Allan Greenwood
Director, Corporate Communications 
705-726-9300 ext. 1230
705-794-9301 (mobile) 
Allan.Greenwood@simcoe.ca

Collin Matanowitsch
Communications Co-ordinator
705-726-9300 ext. 1430
705-734-8386 (mobile)
Collin.Matanowitsch@simcoe.ca