Business succession: the journey of twenty entrepreneurs

While business start-ups are receiving more and more media coverage, business takeovers are still somewhat in the shadows, or are still often approached from the angle of the person selling his or her business. And yet, to ensure the long-term survival of existing businesses, succession is essential. It was against this backdrop that the authors, two researchers from Université Laval's Chair in Entrepreneurship and Innovation, in collaboration with the Caisse de dépôt et placement du Québec, undertook a study of young people from generations X and Y who have opted to take over a business. In these pages, they present their findings.

"Entrepreneurial Succession: the Journey of Twenty Entrepreneursis a practical book offering concrete examples of business takeovers. Twenty cases of young people aged between 20 and 46 who have chosen to take over a business, whether family-owned or not, are presented. Through their stories, we gain a better understanding of the challenges and issues involved in taking over a business. For each case, the players, the process, as well as highlights and observations are discussed. Reflection questions are also proposed at the end of each case, in connection with the specific issues and challenges involved.

Readers will see that the path taken by these young people is not always straightforward. That's why, at the end of the presentation of the twenty cases, we explore possible courses of action to facilitate the path taken by these entrepreneurs, and thus promote access to business takeovers.