Tsunami of small business owners planning to exit, putting $2 trillion on the line

But what happens to that $2 trillion in assets is crucial, because about 50 per cent of Canada’s gross domestic product is created by small- and medium-sized businesses, which together employ more than 80 per cent of workers, Pohlmann said.Article content

Stress and burnout were listed by 22 per cent of owners as the main reason why they want to move on from their businesses, while 21 per cent said they wanted to exit so they can step back from the daily responsibilities that come with being a business owner. Businesses need to make sure they are creating proper succession plans, Pohlmann said, because it can be a cumbersome process in which owners must weigh tax implications, the impact on their staff, and other legal considerations.Article content

Good for them. Leaving a sinking ship of a country with no plausible path forward.

Tsunami is grave specific term, tied to large loss of life, that deserves careful consideration in usage. CFIBNews certain if +200,000 people in Vancouver were killed, as happened 2004 in Indonesia, you folks would be more mindful regarding trigger catch copy.

Understandable as we have a federal government that doesn’t support the private sector,

liberals government did this to lots of businesses

I was in business once. I was working for the government

Thx JustinTrudeau !

When you face inflation, a recession and an anti-capitalist Government, business owners see the writing on the wall and it is time to close up shop and apply for basic income supplements.

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La source: globeandmail - 🏆 5. / 92 Lire la suite »