Succession Connect is a new immigration pilot program in New Brunswick that aims to match immigrants with established businesses in the province.
In October, 2016, the government of New Brunswick announced that it was launching Succession Connect. This pilot program will provide opportunities for new immigrants seeking business investments, as well as for local business owners who would like to pass on their enterprises to business-minded newcomers to New Brunswick who may continue the legacy of the business. It is expected that this pilot program will come under the New Brunswick Provincial Nominee Program (NBPNP), with assistance from the Fredericton Chamber of Commerce.
The New Brunswick Department of Post-Secondary Education, Training and Labour is providing $102,820 for the Succession Connect project, while the government of Canada, through the Atlantic Canada Opportunities Agency’s Business Development Program, is contributing $259,224. The City of Fredericton is providing $78,007, and a number of corporate sponsors are giving $65,720.
Further details on New Brunswick's Succession Connect pilot program will be posted on this page as and when they are announced.
Quotes on the launch of Succession Connect
“The federal government believes public investment is an important catalyst that spurs economic growth, job creation and broad-based prosperity . . . The Fredericton Chamber of Commerce’s immigrant matching program [Succession Connect] is an important pilot project that will provide the critical structure needed to highlight new opportunities for both immigrants and our local businesses, creating good quality jobs for all our citizens while growing and strengthening our local economy.”
- Matt DeCourcey, Fredericton MP, Liberal Party of Canada
“Fredericton is on course to grow in the coming years, and a lot of that growth will come from immigration. This innovative pilot program will help create the best conditions for immigrant investors to find business opportunities, giving them the best chance to succeed. We think it's a winning formula."
- Mike O'Brien, Mayor of Fredericton
“The Fredericton Chamber of Commerce is thrilled to launch the Succession Connect program that addresses two clear needs that will immediately benefit our local economy: providing an avenue for business owners to sell their operations, while dramatically increasing the chances of success for entrepreneurial newcomers, which will help our community retain more of them for the long term, Newcomers bring needed skills, an entrepreneurial spirit and cultural diversity, all of which are positive additions to New Brunswick's economic and social future.”
- Krista Ross, Fredericton Chamber of Commerce CEO.
Learn more about the province of New Brunswick.