Where new owners take shape and exits become opportunities
Helping existing businesses transfer to the next generation of entrepreneurs with support, financing and connection
Are you looking to buy or sell a small local Maine-based business?
At the CEI Business Legacy Lab you’ll find the support and tools to successfully acquire or transfer your small business.
We’ll provide helpful content, supportive community, and connections for both sellers and prospective buyers.
Building on the work of Proprietor and the ongoing work of CEI, the Business Legacy Lab will support each stage of the business buying and transition journeys: for current and aspiring small business owners.
Interpretation services are available upon request.
LEARN MORE
Supporting buyers and sellers through each stage of the business transition journey
Want to help shape this work?
Help us test ideas, hypotheses, and offerings as this work evolves.
The CEI Business Legacy Lab is currently in its preliminary, soft-launch phase. Currently, our primary focus is connect with as many potential buyers and sellers as possible. We want to learn more about what you’re experiencing, things you’re considering, and where you could use additional support. We’ll integrate your feedback into courses, programming, and other resources we plan to launch in Fall 2026.
- Aspiring Owners – I am interested in purchasing a business
- Aspiring Sellers – I currently own a business and am interested in selling someday
Not interested in filling out a survey, but want to know when programming launches? Complete our general interest form.
Why This Matters and Why Now?
The retention of successful and established small local businesses is critical to rural communities. These businesses have important cultural and economic spillovers; they provide employment and circulate three times more money back into local communities than absentee-owned businesses and corporate chains.
A silver tsunami of closures is predicted as approximately half of these businesses have owners aged 55 and older. Historically these businesses are far more likely to close than to be sold when their owners retire. Of the few that do go on the market, it is estimated that only one in five are actually sold. Successful ownership transition instead of closure represents a huge opportunity for the Maine economy and our Main streets and communities.
When businesses close in rural areas, everyone loses. Small towns lose their services, plus the economic and social drivers that make them desirable places to live. Workers, especially young ones, lose their jobs and move elsewhere.
Self-employment and business ownership are key tactics for building wealth and economic mobility. Studies show that households in which the head of household is self-employed have substantially higher wealth levels than those in which the head works for someone else.
Business ownership is a path to intergenerational wealth creation, and we see an opportunity for entrepreneurs who traditionally face barriers to entrepreneurship to acquire businesses and build wealth and fits beautifully with CEI’s mission to make the economy work more equitably.
Who We Are
We believe wholeheartedly in the importance of Maine’s small local businesses. We know many business owners will be retiring. We know that entrepreneurship can be a path to job and wealth creation.
We have been doing this work for many years through our advising and workshops and quietly building expertise and experience. Each year CEI provides advising, workshops and financing to over 1,000 entrepreneurs. Increasingly, we are serving small business owners who want to sell their businesses and the entrepreneurs who want to buy them and have been building expertise in business ownership transitions.
When Martha Bentley came to us and asked us if we wanted to build on the work of Proprietor, we resoundingly said yes. We saw there is a gap in Maine’s small business ecosystem – while there are many resources for starting a business, there is not much focus on how to exit a business when the time comes. The private sector provides resources for larger business transitions and acquisitions but pays less attention to the very small local businesses market.
CEI is well equipped to execute on the vision of Proprietor, bringing the expertise and passion of the CEI staff to the effort. We will also explore financing vehicles and support for these transitions, leaning on CEI’s own legacy of supporting rural business owners and those sometimes shut out of traditional economic development systems.
Sarah Guerette
Senior Program Director, Business Development Services
Azenaide Lowatiwiya
Associate Loan and Investment Officer
Frequently Asked Questions
Q. Do I have to be in Maine to join?
A. No, you don’t. Our work will be focused on ownership transitions for Maine-based businesses. Interested buyers could live outside of Maine, but we imagine you’d want to be prepared to move to Maine to operate a small business here. We will have content available online.
Q. Do I have to be ready to buy a business or sell my business?
A. Not at all. The CEI Business Legacy Lab is a place to learn and connect without being fully ready to commit to buying or selling. Many are here to learn about the process, what to think about, and even whether they ever want to buy or sell!
Q. I am ready to buy a business or sell my business. What’s the next step?
A. While CEI has been working with people selling their businesses and people buying businesses for a long time, the CEI Business Legacy Lab is a new initiative. Please email us at businesslegacylab@ceimaine.org with a little more information about your goals and your timeline and we will respond as quickly as we can with how we might be able to support you. Please also sign up for CEI’s Small Biz Buzz newsletter where you can stay connected as we develop programming and resources to support your ownership journey.
Q. I am already using a business broker or real estate agent to sell my business; can I still work with the CEI Business Legacy Lab?
A. Yes, absolutely. The CEI Business Legacy Lab is a resource hub, not a broker. You will want to be transparent that you are using a broker or agent to manage your transaction.
Q. I’ve never owned a business before, but I’m interested in buying an existing business. Can I still be a part of the CEI Business Legacy Lab?
A. Absolutely. One of our goals is to increase ownership opportunities for entrepreneurs who traditionally face barriers to entrepreneurship, and no business ownership experience is required to learn more about purchasing a business.
Q. Is there a cost to participate?
A. Many of CEI’s offerings are currently provided at no cost to the participant. Our intended audience for this work is small business owners, and entrepreneurs who traditionally face barriers to entrepreneurship. While we may charge for some offerings, there will be many ways to interact with the CEI Business Legacy Lab at no cost, and our intention is to keep resources affordable for all who want to participate.
Q. I am an ecosystem partner, what’s my role in this initiative?
A. We welcome collaboration with ecosystem partners and other service providers. We will be building ecosystem resources and educational materials as part of this new initiative and will welcome feedback and input. We will also count on ecosystem partners to help us build a robust referral system back and forth as well as the pool of potential buyers and sellers to improve the “shots on goal” for potential buyers and sellers. Finally, we look forward to collaborative events and activities with ecosystem players who share our values and vision for a just economy that works more equitably.