by Neville Gilfoy

The growing exodus of head offices out of the region continues to cause concern. In the past few months several more successful entrepreneurs have sold their businesses, as they have every right to do. In fact, selling the company in order to realize on assets that have been created is the final stage of the entrepreneurial life cycle—and it must be encouraged.

Most of these business growers have reached milestone moments in their personal and professional lives and have decided that now is the time to sell. While a few months ago I was voicing my concern about this trend, it's perhaps best to see the change not so much as a challenge for the region but as a growing opportunity.

When you consider what is happening during this process, it's easy to get excited. Yes, the head offices and future profits move away, but left in place are a growing number of seasoned businesspeople with substantial amounts of capital-some of which should be invested locally.

Combined with stimulus legislation across the region—such as the Capital Pool Corporations and New Brunswick's improved equity tax credit program, among others—these now wealthy businesspeople bring the whole package of support to our growing entrepreneurial community. They have business start-up, growth, and succession experience; they have credit and equity capital backgrounds; they know relationship and business-development strategies and tactics; they understand human resource issues; and, most importantly, they know how to succeed in business.

Their networks of contacts—suppliers, investors, and clients—are established, and when they get behind entrepreneurs and their businesses they'll want to offer access in order to accelerate success.

There is no doubt there will be challenges as we go through this period in which more established entrepreneurs divest their interests. And the numbers of those who have recently sold, or are in the process of selling, or who will shortly begin the sales process, is significant. The potential for damage is just as substantial.

But the opportunity to bring all this new capital, available expertise, and mentorship and new market-development potential represents a greater upside than any possible downside.