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Entrepreneurship Through Acquisition (ETA)

A unique path for aspiring entrepreneurs to acquire, lead, and grow established businesses.

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ETA in the Olean Region

  • Did you know there are over 300 small businesses in downtown Olean alone-and more than double that across the greater Olean region?

  • More than half of these small business owners are baby boomers who are expected to sell their businesses in the next decade.

  • Entrepreneurs are not only people with new ideas, but also those who see opportunity in purchasing existing successful businesses and helping them grow.

OBDC and ETA

​i. OBDC aims to keep generational wealth and essential community services within the region that these small businesses represent.

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ii. OBDC is uniquely positioned to:
a) Help local business owners prepare their businesses for sale.
b) Develop a network of entrepreneurs interested in buying existing businesses.
c) Facilitate matches between sellers and buyers.

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iii. OBDC was awarded the Springboard 2025 Grant for Transition Matchmaking.

1. OBDC has helped offset closing costs for numerous transition transactions for small business owners in the Olean area

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2. It has also hosted several events introducing area business owners to the concept of ETA, and letting them know that there is an option for them to sell their business, not simply close their doors 

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3. OBDC has also hosted information sessions for area professionals (bankers, lawyers, financial planners, bookkeepers, accountants) to introduce them to the same concepts such that they can recommend options to their clients​

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iv. OBDC is proud to partner with TransWorld Business Advisors-Buffalo, recently purchased by former area residents to support ETA and business transition activity in the Olean area

1. This enables Olean area small business owners to take advantage of the tools available through TransWorld Corporate to get their businesses listed and sold to new owners

2. The goal is to keep generational wealth and critical products and services local by keeping these businesses alive and thriving through new ownership!

                                                                          

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