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Small Business Succession Planning Program

The Succession Planning Program offers resources for small business owners thinking about succession planning. Succession planning is getting your business ready to be sold or transferred to new management. This could be a sale or transfer to your family, an employee or a group of employees, or someone else. Planning ahead can help you: 

• Understand how much your business is worth, and how to prove it.
• Find ways to make your business run smoother.
• Identify and develop leaders.

In spring 2024, we launched a pilot program. The first year of the program included a series of workshops as well as a facilitated conversation with local leaders who have experience with succession planning. The purpose of the pilot program is to:

• Better understand the needs in the community.
• Provide a basic understanding of succession planning to small business owners. 
• Help small business owners begin to think about their own plans.
• Learn about available resources. 
• Connect small business owners interested in succession planning.

Recorded workshops

• Succession Planning Workshop Series: What is Your Business Worth? with Juan Carlos Morales of Roads Consulting Group (May 2024)
• Succession Planning Workshop Series: How to Transfer Your Business with Jose Perez of Roads Consulting Group (May 2024)

Upcoming Events

Massachusetts Center for Employee Ownership Greater Boston Regional Symposium 

Please join the City of Cambridge Economic Opportunity and Development Division and the state's new Massachusetts Center for Employee Ownership (MassCEO) for a regional employee ownership event. Tentative agenda for this event includes: introduction to MassCEO and its resources, Employee-Owned Business Roundtable, and networking opportunities for businesses interested in becoming employee owned.

• Date: Friday, February 28, 2025
• Time: 9:00 - 11:00 A.M. (updated time)
• Location: Cambridge City Hall, 795 Massachusetts Ave., Sullivan Chamber, 2nd floor.

Small Business Succession Planning Workshop: Building A Legacy Beyond Ownership

Are you a small business owner thinking about retiring or transferring your business? Join us for a hands-on workshop to learn how to confidently prepare for your business’s future. We will cover the basics of succession planning, including assessing readiness, defining clear goals, and understanding financial and operational considerations. Open to business owners who live or operate in Cambridge. This workshop is presented by Revby and sponsored by the City of Cambridge Community Development Department. Registration is required and closes on Thursday, March 27^th at 5:00 PM.

• Date: Tuesday, April 1, 2025
• Time: 6:00 – 8:00 P.M.
• Location: City Hall Annex, 344 Broadway, 2^nd Floor, Cambridge or online via Zoom. You will receive a Zoom link after registration.
• Registration required by Thursday, March 27^th at 5:00 P.M. Click here to register. 

Note: Cambridge businesses who attend this workshop may be eligible for free one-on-one coaching assistance after the workshop. To check your business’s eligibility for coaching, click here.

For more information

For more information on the Succession Planning Program please contact Sarah Jane Huber at shuber@cambridgema.gov or 617/349-4624.