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Canada faces economic crisis with looming retirement wave

Owners of half of the small- and medium-sized businesses in the Great White North are set to retire in the next decade, but hardly any have made succession plans.

By Andy Stonehouse | Updated on November 14, 2012

Canadian researchers have done the math, but the story could be the same for the U.S. market: Not so far in the near future, a massive wave of retirements by business owners could pose a huge risk to the economy.

CIBC World Markets’ research indicates that half of all small- and medium-sized businesses in Canada are set to retire in just the next decade, with more than 300,000 businesses poised to transfer control in just the next five years.

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