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Canada faces potential wave of small business closures: MNP

Summary by RETAIL INSIDER
The average age of Canadian business owners was 53.5 in 2020, with many now approaching or already at retirement age. The post Canada faces potential wave of small business closures: MNP appeared first on Retail Insider.
DisclaimerThis story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.

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Canada faces potential wave of small business closures: MNP

The average age of Canadian business owners was 53.5 in 2020, with many now approaching or already at retirement age. The post Canada faces potential wave of small business closures: MNP appeared first on Retail Insider.

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Canadian ManufacturingCanadian Manufacturing

MNP’s Succession Readiness Report Shows Potential Of 'silver Tsunami' Due To Retiring Owners And Tariff Impacts - Canadian Manufacturing

CALGARY — Amid economic uncertainty and tariff wars, Canada faces a wave of small business closures, partly driven by the “Silver Tsunami” of retiring Baby Boomer entrepreneurs. With small businesses making up 98.1% of all employer businesses, employing 46.5% of the private sector workforce, and with many owners nearing the age of retirement, succession planning is critical to the transition. A new report from Statistics Canada reveals that the …

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Canadian Manufacturing broke the news in on Thursday, April 3, 2025.
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