CFIB Report Highlights Small Business Exit Trends in Canada

A report released by the Canadian Federation of Independent Business found that 63% of small business owners plan to exit their business within the next decade, potentially freeing up over $2 trillion in assets. Marvin Cruz, the federation’s senior research director, stated that high tariff costs, input costs, taxation, and labor costs are pushing business owners toward exit. One in five small business owners cited burnout and stress as a reason for seeking an exit.

The trends suggest a significant contraction in the Canadian small business sector, which the Canadian Federation of Independent Business has previously warned is an entrepreneurial drought. High operating costs and trade pressures are cited as major factors contributing to these exit plans.