Community acquisition of local businesses: A pilot study

Dr. Hachigian received Social Sciences and Humanities Research Council funds to study the feasibility of transitioning local businesses to social enterprises through a community ownership model.

Small businesses in Canada face significant succession planning challenges. In the absence of willing successors or buyers, communities across the country face a mass exodus of a key driver of their economy.

At the same time, non-profits face increasing pressure to generate revenue by starting a business. By acquiring an existing business, non-profits can leapfrog the daunting start-up stage. But taking advantage of this opportunity requires skills and expertise that most non-profits do not have.

This research studies the feasibility of transitioning local businesses to social enterprises on Vancouver Island through a community ownership model that centralizes the acquisition functions.