With a significant share of Canada’s small business owners nearing retirement, there’s a narrow window for aspiring entrepreneurs to step in – yet many don’t see business acquisition as a viable path.
New TD research highlights both the demand and the barriers, particularly access to financing, that are holding Canadians back from building long-term wealth through ownership. A massive generational wealth transfer is underway in Canada, but many aspiring entrepreneurs risk missing out.
The BDC recently reported approximately 61% of small and business owners are 50 and older and 1 in 5 plan to exit their business within the next five years. This transition represents a unique, time-sensitive opportunity for everyday Canadians to secure long-term prosperity.
A recent TD survey found 43% of Canadians find the idea of starting their own business appealing, but only 1% are currently buying an existing business and taking over from the current owner. The survey discovered aspiring entrepreneurs face a number of obstacles in starting a new business, including lack of experience. But the leading factor is a lack of money or financial resources to start.
TD is looking to close this gap, especially in underserved communities. Access to financing for Black business owners is a primary goal of TD’s Black Entrepreneur Credit Access Program (BECAP).
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
About Us
Canada’s Entrepreneur is the number one community media platform in Canada for entrepreneurs and business owners. Established in 2016, our podcast team has interviewed over 800 Canadian entrepreneurs from coast-to-coast. With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 250,000 + audio downloads, 50,000 + average monthly social impressions, 15,000 + engaged social followers and 120,000 newsletter subscribers. Canada’s Entrepreneur is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story
