If you operate a small business, it could be a consumer co-operative or a multistakeholder co-operative made up of your customers only or with members of your community who have a stake in your business's survival.

If your business has more than three employees, it could be, for example, a worker

co-operative made up of your employees.

If your business represents an important market opportunity for your suppliers, they

may be interested in turning it into a producer co-operative.

Whatever the type of co-operative that seems most appropriate for taking over your business, it is important to remember that they all have common features conferred under the relevant co-operative legislation in your province, feature that make them sound, profitable businesses with survival rates that are greater than those of private companies:

• in most provinces their democratic governance structure is set out in legislation; lines of authority, and each person's roles and responsibilities are clearly defined;
• their management logic is different but just as effective as, if not more effective than, that of a private company because the owner members have every interest in their co-operative being profitable and prosperous:

-> members of a consumer co-operative or a multi-stakeholder co-operative need the business to procure the goods and services they want to access locally at good value prices;

-> members of a worker co-operative have an interest in their co-operative prospering because their wages and working conditions depend on it;

-> members of a producer co-operative need their co-operative because it is the key market for their products.

For all of the above reasons, it is our belief that the co-operative alternative is the most attractive alternative for transferring a business upon the departure of its owner:

• by its very nature, it has a promising future;
• it is sure to retain local control over the future of a business;
• it provides the owner with the perspective of seeing his life's work and his memory perpetuated within his community.