The Thunder Bay Community Economic Development Commission (CEDC) has unveiled Succession Pathways, a new confidential advisory program to safeguard business continuity in the region. This strategic initiative addresses a critical gap in the Canadian business landscape, where over 70% of businesses lack formal succession plans. The program connects local business owners with experienced advisors, offering personalized guidance on business valuation, legal services, and strategic planning to ensure smooth ownership transitions. CEO Jamie Taylor emphasizes the program’s role in preserving local economic stability and maintaining the legacy of family-owned enterprises for future generations.