We all know that the “baby boomers” are getting older and starting to retire – and some of them are small business owners. We call these individuals “Generation Exit” – a whole generation of business owners wanting to exit the small business world. Are you one of these people?
In 2006 it was estimated that more than 40% of small business owners planned to leave their businesses in the next five years, and more than 70% within the next ten years. Yet up to 71% of these business owners didn’t have a plan on how to exit their business.
It is anticipated that over the next 20 years there will be many more businesses than there are owners and employees – resulting in the potential closure of many small businesses throughout Sun Country Region. This will have an impact on employment, economic output, business formation and the availability of services in our region.
We at Community Futures Sun Country recognize the importance of succession planning – of the need for services and resources for business owners wanting to retire from their business.
For more information about the potential impacts of “Generation Exit” please contact us.
Community Futures is taking a proactive approach to assist businesses owners that are wanting to sell their business. For more information please do not hesitate to call the office at 1-800-567-9911 to speak with Linsie Lachapelle, General Manager.
For more information, please click here.
Our mission is to maintain strong communities in Western Canada through business retention. We help businesses find new owners, and buyers find the right businesses.
List your business for sale for free!
Community Futures Sun Country recognizes and acknowledges with gratitude we are collectively gathered on the ancestral, traditional, and unceded territories of the Nlaka'pamux, Secwepemc, St’átl’imx, and Stó:lō Nations where we live, learn, collaborate and work together