Canadian entrepreneurs approaching retirement age is increasing

The number of Canadian entrepreneurs who are approaching retirement age is fast increasing. Studies show that one-fifth of small businesses owners in Canada are planning to retire within the next five years and another 30 percent will retire by 2020. Among small businesses owners age 55 to 64, only approximately 15 percent have definite plans to transfer or sell their business to a family member. This demographic development will likely result in an unprecedented number of businesses being made available for purchase on the open market.

Read the latest report outlining the implications of this phenomenon:

http://www.cibc.com/ca/pdf/retirement-05-en.pdf