This content is made possible by our sponsors. Submit your expert blog here.

How to create lasting legacy in Ottawa: A guide for business owners 

Mike McNeil

For many business owners in Ottawa, retirement elicits many concernschief among them, succession. How can you ensure your business thrives and continues to serve the community even after you’ve stepped down?

According to a Canadian Federation of Independent Business survey, 90 per cent of business owners lack a formalized succession plan. With so many baby boomers retiring, this challenge presents clear risks for our local and national economyfrom the potential loss of vital products and services to impacts on localized investment and job stability.

However, if done successfully, this period of mass business transition can positively impact our economy and communitythat’s why it’s essential to get it right.

Investment in growth 

Finding the right successor is not only about passing on responsibilities, it’s about ushering in new ideas and innovation. A well-matched buyer brings a fresh infusion of capital and new perspectives that can significantly boost business operations.

This might mean expanding operations, exploring new markets, or enhancing product lines. These steps increase productivity, create jobs, and stabilize the business long-term, which are all vital for Ottawa’s economic health.

Job creation and stability

The impact of a successful business transition extends beyond the immediate financialsit’s about people. By ensuring that your business does more than surviveit thrivesyou are helping maintain (and potentially increase) local employment. This continuity is crucial for individual employees, their families, and the entire community.

Contributing to community well-being 

Businesses play a crucial role in the communities in which they operate. Small businesses contribute to the local economy by providing employment, purchasing from local suppliers, and paying taxes.

Many companies also contribute to local charities, fund community projects, and participate in local governance. This impact is amplified when these businesses remain locally owned and managed, ensuring the community retains its unique identity and strength.

Your legacy is Ottawa’s future

The sale of your business could be one of the most significant contributions you make to Ottawa’s economic and social fabric. Understanding the broader economic impacts helps frame your decision both in terms of financial gain and as a contribution to the community’s ongoing prosperity.

If you are considering selling your business, let Regenerative Capital Group help you maximize its positive impact and leave behind a legacy you can be proud of.

Regenerative Capital Group: Your partner in legacy building

At Regenerative Capital Group, we understand that your business is more than just a financial assetit’s a cornerstone of the Ottawa community. That’s why we specialize in facilitating transitions that respect the founder’s vision while positioning the business for future success.

We are making a long-term commitment to preserving what you have built and enhancing its ability to contribute positively to the community. Our acquisition approach ensures that the legacies of local business owners endure and flourish.

About Mike McNeil

Raised in Ottawa, Mike McNeil has extensive experience in business leadership and entrepreneurship, gaining key insights from accomplished leaders like former Canadian Finance Minister Jim Flaherty and Dragons’ Den Star Arlene Dickinson.

After nearly a decade of elevating business success in Alberta, he’s returned to Ottawa to raise his young family and serve as CEO-in-Residence and Managing Partner of Regenerative Capital Group, a new impact fund backing his acquisition of a local business to achieve meaningful impact, purpose, and profit.

Last year, Mike was named one of Canada’s Top Executives by The Globe and Mail.