RADF Investment: $1.5 million

Other Investment: $334,242

Total Investment: $1,834,242

Project Period: December 2007–November 2011

T: 780.672.0376

Project Description

Family enterprises are the largest group of business owners in rural Alberta, but there are few resources to help people transfer assets, ownership, and leadership to the next generation. This program, which is based at the University of Alberta School of Business in Edmonton, does just that, helping families transition assets to sons, daughters, and other young people. Significant components of the program are succession planning for business owners and knowledge transfer from one person to another.

Expected Outcomes and Benefits

All projects go through a selection process to ensure they will improve the quality of life for Albertans. This project meets this objective through the following outcomes and benefits:

• Provide tools to rural family businesses to support the successful transfer from one generation to the next
• Increase the number of highly skilled and trained people available to work in and lead business initiatives in rural communities
• Increase access to quality and relevant business education in rural Alberta
• Increase diversity of employment opportunities in rural Alberta
• Develop collaborative networks and regional partnerships supporting rural development
• Provide ongoing workshops throughout rural Alberta to train local professionals and service providers
• Provide one-on-one consulting
• More than 1,100 people have participated in workshops, events, and group training