Most businesses don't stop growing because they run out of opportunity. They stop growing because the leadership that built the business isn't the leadership the next stage requires. In conversation with Natasha Vandenhurk, Founder and CEO of Three Farmers Foods, one idea surfaced repeatedly. Every stage of growth asked her to let go of something, whether that was a product, a responsibility or the belief that she had to be involved in every decision.

Successful transitions rarely begin when an owner decides to sell. More often, they begin years earlier through decisions about leadership, succession and growth. That was the case at GHY International. Long before partnering with SeaFort Capital, fourth-generation owner Rick Riess was preparing the business for a future that wouldn’t depend on him. Speaking at BTF Saskatoon 2026, GHY International CEO Chris Bachinski and SeaFort Capital President Rob Normandeau shared how those decisions ultimately positioned a 125-year-old company for its next chapter.

When Steve Belyea started BASE Engineering, he had little more than an idea and a single customer. Over the next three decades, he built the company into a global business serving customers in 28 countries, completed two successful exits, and learned some expensive lessons along the way. Speaking at BTF Atlantic 2026, Steve reflected on what made the difference. His story offers a reminder that buyers are rarely attracted by a transaction. They're attracted by the business that exists long before the transaction begins.

Building a business often looks straightforward in hindsight. Growth milestones, new locations and successful exits tend to become the visible markers of progress. Justin John and Eric Velez-Chua know the view from the inside usually looks different. During their BTF Toronto session, the founders of The Woods reflected on the years between startup and exit, sharing lessons on leadership, partnership and the decisions that quietly shape long-term value long before a transaction ever takes place.

Some industries force clarity. Energy is one of them. Cycles move quickly, capital is unforgiving and decisions have long consequences. For entrepreneurs operating in that environment, the margin for error is smaller and the feedback is immediate. That’s what makes the lessons transferable. In a recent conversation at BTF Alberta between Brenda Slauko of BDC and Joel Vorra, former President of Tidewater Renewables, the discussion centred on the energy transition. What emerged wasn’t just a view on energy but a set of principles that apply to any business navigating change, growth or acquisition.

For many business owners, transition has traditionally been something left for later, tied to succession or a future moment when the timing felt right. That approach is shifting. That shift is happening as Canada enters a significant wave of business transitions, with thousands of SMEs expected to change hands in the coming years, making timing and preparation more consequential than ever. Véronique Dorval, Executive Vice President and Chief Operating Officer at BDC and 2026 BTF Toronto Conference Chair, is seeing more owners move earlier and with greater intent.