January 17, 2020

Nova Scotia’s Wave of Business Transition

The demographic wave that is causing many business owners to sell is a common topic in my blog (and in many of my presentations). This is because Atlantic Canada has the oldest population in Canada, and this trend is particularly impacting business owners, especially in Nova Scotia and Newfoundland.

See the Saltwire article below, in which entrepreneur Don Mills talks about selling his company Corporate Research to his management team, and how this is relevant to his estimate that 20,000 NS business owners (and 10,000 in NL) will be selling in the next few years. Don discusses the financial, tax and valuation aspects of selling a business, as well as the exit options.

In addition, our firm BDO recently partnered with FEI for a survey of Canadian mid-market business owners about their succession plans. The latest survey shows that 54% are expecting to sell within 2 years!

The decision to sell can be a difficult one for any owner but today’s active markets may mean now is the time to sell your business.

Dan Jennings

Merger & Acquisitions Advisor and Business Broker
Partner, BDO, Atlantic