Thunder Bay CEDC Launches Succession Pathways: A New Program Supporting Business Continuity in Thunder Bay
Tuesday, May 20, 2025 — The Thunder Bay Community Economic Development Commission (CEDC) is proud to announce the launch of Succession Pathways, a new confidential advisory program designed to help local businesses navigate the critical and often complex process of succession planning.
With more than 70% of Canadian businesses currently operating without a formal succession plan, the risk of disruption or closure is especially high in smaller and regional economies. Succession Pathways is designed to address this challenge head-on by connecting business owners in Thunder Bay with experienced advisors who provide one-on-one support tailored to their unique needs.
“This program is about future-proofing our economy,” says Jamie Taylor, CEO of the Thunder Bay CEDC. “By helping business owners transition ownership smoothly and strategically, we’re ensuring that local businesses—many of which are family-owned—can continue to serve our communities for generations to come.”
The program offers tools, education, and personalized guidance on key aspects of succession planning, including business valuation, legal services, strategic planning and preparing for ownership transfer. Delivered through a discreet and coordinated approach, Succession Pathways empowers owners to take control of their transition process—confidently and securely.
How It Works
- Book a short screening meeting with our Sr. Business Development Officer at CEDC via Calendly.
- Get matched with a subject matter expert for a free 1-hour consultation.
- Receive a written report from the expert summarizing key findings and recommendations.
Optional: Business owners may schedule up to two additional follow-up meetings with the advisor. Please note: After a total of three appointments, any further meetings will not be covered by the CEDC
Whether planning to sell, hand off to a family member, or bring in new leadership, business owners will benefit from a thoughtful approach that prioritizes continuity, local employment, and long-term economic resilience.
For more information about Succession Pathways, including how to participate visit: https://gotothunderbay.ca/how-we-help/succession-pathways/
