Every business owner will eventually leave their business, but without a plan, that transition can put years of hard work, jobs, and your business’s legacy at risk. A successful business transition takes time and the earlier you plan, the more options you have. And, you don’t have to do it alone; the Department of Commerce’s Office of Neighborhood Economic Development invites business owners to apply to Year 2 of our 6-week business succession planning cohort that will highlight real-life pathways for business transitions that build wealth and legacy.

Philadelphia’s small business owners are the backbone of our neighborhoods providing essential goods and services. We are dedicated to helping them plan ahead and grow generational wealth. 

Cohort benefits 

  • No cost six-week cohort course (in-person and virtual sessions) 
  • Graduates receive fully subsidized professional services (up to $1,000), including legal and business valuation  

Cohort topics 

  • Guidance to explore transition pathways, such as passing the business to a family member, transitioning to employee ownership or selling to a local buyer in the neighborhood 
  • Key legal, financial, practical benefits of a succession plan 
  • How to start preparing business financials for a transition 
  • Practical next steps to guide the creation of a realistic succession plan  
  • Common business transition pitfalls and how to avoid them 
  • Local programs and resources available to help. 

Cohort eligibility criteria  

  • Located in Philadelphia, 
  • Have been in business for at least 3 years, and  
  • Considering retirement, sale or transfer of business ownership. 

Attend an upcoming session 

Interested in the cohort? Join a one-hour, virtual information session to learn about the program, what to expect, and how to participate. 

Want to learn more about succession planning basics, but can’t commit to the cohort yet? Attend a 90-minute workshop for an introduction to succession planning options. 

  • Workshop 1: Thursday, October 8, 2026, 6:00 p.m.-7:30 p.m.
    • Location: Our House Culture, 6380 Germantown Avenue Philadelphia, PA 19144
  • Workshop 2: October 15, 2026, 9:30 a.m. -11:00 a.m.
    • Location: Virtual
  • Workshop 3: Tuesday, November 10, 2026, 5:30 p.m. – 7:00 p.m.
    • Location: LA21 CDC, 3500 Lancaster Avenue Philadelphia, PA 19104

Ready to apply to the cohort?  Complete this form and a member of our team will contact you within five business days to answer your questions and help you determine if this cohort is the right fit. 

Register today 

The cohort sessions run weekly from October 6 through November 10, 2026. The first and last sessions are 2 hours and in-person, and the others are 90 minutes on Zoom.   If you’ve been thinking about your business future, whether that’s passing the business on, selling, or simply knowing your options, this program is for you. 

Applications are now open and close Tuesday, September 29th. Applications are reviewed on a rolling basis, and the program may fill before the deadline, so early applications are encouraged. 

Questions about this cohort? Email jamie.shanker-passero@phila.gov. 

As always, the Mayor’s Business Action Team at the Department of Commerce is here to support business owners for all aspects of doing business in Philadelphia. Contact us by emailing business@phila.gov or calling 215-683-2100. 

Apply to join the cohort