Collective recovery: a solution to consider

Three years after its foundation, the Québec Transfer Center (CTEQ) can say that it has exceeded its objectives.
One aspect of the transfer seems a little forgotten in the choices of entrepreneurs ready to give way: collective recovery. But the Quebec Business Transfer Center (CTEQ) is working to introduce this solution that goes beyond the case of a transferor and a buyer.

“This is an interesting option for anchoring a business in your area, because it is the will of a group, a team, a community that ensures the sustainability of a business and conservation. of its expertise, “says Vincent Lecorne, president and CEO of CTEQ, who wants to further promote this model in the coming years.

Collective or cooperative recovery is one of the options with many advantages and few disadvantages when a transferor still has a few years ahead and has not been able to identify a succession.

“Three years ago, we started a process where everything was to be built and discovered. But in a short time, we have demonstrated the relevance of such an organization, because there are real needs and real issues everywhere in Quebec, “he explains.

Regional Summits
With regional summits, CTEQ continues its awareness-raising efforts in each of Québec’s regions. The notion of departure planning is still unclear for many entrepreneurs who are seeing the retirement age on the horizon.

It is in this perspective that the CTEQ created its index (ctequebec.com) to document businesses for sale and potential buyers and to highlight the buyer’s market.

The International Procurement Summit in May 2018 included several workshops.
The International Procurement Summit in May 2018 included several workshops.
PROVIDED BY CTEQ
“We are not brokers, but the index reveals the hidden market, which is struggling to assert itself. In addition to planning the transfer of the company, we must not forget the stage of communicating its intentions if we really want to sell the company and retire, “insists Mr. Leconte.

The index also connects people from different regions so that buyers can find the type of business sought elsewhere than in their home sector.

Communicating
“Quebec may be great,” continues Mr. Lecorne, the entrepreneurs have nothing to lose by announcing their intention to give up their company. On the contrary, regardless of the origin of the buyer, whether it comes from Abitibi or Gaspésie, if he finds an opportunity in another region, local jobs will be guaranteed. ”

At the summit held in Montreal at the end of May, CTEQ announced a collaboration agreement with the Ministry of Tourism to create more links between transferor and buyer in the tourism industry, an agreement that makes the Plan of Action government in entrepreneurship.

“There are major issues in this sector of activity,” says Lecorne. We often think of the hotel industry, but there are also campgrounds, outfitters, recreational tourism, restaurants, or seasonal activities. All these companies are also faced with the challenges of business transfer. After talking about the entrepreneurial culture, we must now talk about the culture of buyers as a way of ensuring the sustainability of businesses not only in the context of family transfer. ”

At the Montreal summit, François Dubeau, from the Ministry of Tourism, insisted on the huge potential for buyers in a world that generates $ 15 billion in annual revenues for some 32,000 businesses in Quebec. The impact is $ 9.9 billion in gross domestic product for 2.5% of economic activity.

Thus, the CTEQ will have two transfer consultants specifically for the tourism industry.

Not a clone
The transfer of business, says Lecorne, is not a business start. It will not be a clone of the company, but a reorganization that can do something new, that goes beyond the original project. “Managing an existing business in a recovery and transfer project requires management skills. This is a notion that current business people must incorporate as a fundamental notion, says the CEO of CTEQ. Transferors should not look for someone who looks like them, but someone who can have a good knowledge of the industry with management capabilities to take over with the team in place. The transfer of direction is not a transfer of ownership. The good manager will surround himself with the right people to take the company to another level.

Certainly, for the CTEQ, if the clearing is done, it remains to bring the current owners to realize that they have every interest to know in their community, but everywhere else, that they are ready to pass the relay to new leaders.

The CTEQ in figures

5500 entrepreneurs accompanied since 2015

700 meshes made with companies

Figures from the INDEX (research platform developed by the CTEQ)

453 registered cedants

2689 buyers

757 registered experts

Average profile of an accompanied company

by the CTEQ (since 2015)

$ 710,000 average sale price

18 average number of employees

$ 1.3 million average turnover

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