“Canadians are aging, and Canadian entrepreneurs are aging even faster. The number of self-employed who are nearing retirement (ages 55 to 64) has been rising rapidly in recent years, growing by a whopping 7.5 percent annually since the beginning of the decade. This is double the growth rate seen in the 1990s. One-fifth of small business owners (or more than 500,000) are planning to retire within the next five years, and another 30 percent will retire by 2020. That is, within the coming 15 years, more than half of the country‚Äôs current small business owners are expected to retire.”

CIBC – Are Canadian Entrepreneurs Ready to Retire