(INDIANAPOLIS) - Governor Mike Braun has launched a new state initiative aimed at helping Indiana small business owners prepare for ownership transitions and long-term succession planning.
The initiative, called "Keep IN," is being led by Indiana's Office of Entrepreneurship and Innovation, a state agency created under Braun's administration.
According to the governor's office, the program is designed to reduce business closures, preserve local jobs, and help businesses remain locally owned as aging owners prepare to retire or sell.
State officials cited research showing nearly 60 percent of Indiana business revenue comes from companies owned by people age 55 or older.
The state also said national data shows most small business exits end in closure rather than ownership transfer.
As part of the initiative, Indiana is launching a pilot partnership with SMB.co in three regions of the state -- Northwest Indiana, South Central Indiana, and Southwest Indiana.
Officials said participating business owners will have free access to tools including business valuations, transition readiness assessments, and succession planning resources.
The Office of Entrepreneurship and Innovation is also partnering with the Indiana Chamber of Commerce to offer free workshops for business owners interested in succession planning or selling their businesses.
The workshops will focus on topics including business valuation, legal guidance, and transition planning.