Most B.C. small business owners plan to exit within 10 years, but few have a succession plan: CFIB

A majority of small business owners in British Columbia plan to leave their businesses within the next ten years, according to the Canadian Federation of Independent Business (CFIB). The group says only four per cent of those owners have a succession plan.

Ryan Milton, the CFIB's director of legislative affairs for B.C., warned that owners without a plan risk a delayed retirement or being forced to close.

The findings come from a new CFIB report. News coverage of the report, published on Oct. 23, 2026, noted that an election was just over 24 hours away. The election was not specified.

Exits outpacing new businesses

The CFIB's report says business exits are outpacing new entries in B.C., and have been for five consecutive quarters.

The CFIB also says 98 per cent of B.C. businesses are small businesses.

What stands in the way

Among the owners planning to exit, 48 per cent said finding a buyer or suitable successor is the biggest hurdle, according to the CFIB. For 35 per cent of them, valuing the business is the most common barrier.

Owners also described what matters to them in a sale:

• Protecting employees: 92 per cent of B.C. respondents said this is important when selling. The Canadian average is 85 per cent.
• Community: 87 per cent of B.C. business owners said they are concerned about their businesses continuing to support the local community.
• Canadian ownership: Three-quarters of owners said it is important that the business stays Canadian-owned.

What the CFIB wants

The CFIB is asking governments to make it easier to buy and sell businesses. It wants them to raise awareness, especially among young entrepreneurs, of the advantages of buying an existing business.

It also wants governments to explore ways to help first-time business buyers access capital, similar to the support available to first-time homebuyers.

For the B.C. government, the CFIB suggests dedicated business marketplaces, as Québec has, and greater awareness of Employee Ownership Trusts. These are two of the actions the group says the province can take.

About the figures

The statistics in this story are the CFIB's, drawn from its own report and attributed to the organization throughout.