Hosted by Douglas Soltys and Rob Kenedi, the BetaKit Podcast Channel features weekly podcasts discussing Canadian tech and global tech from a Canadian perspective.
It’s estimated that 41 percent of all SMEs in the US are owned by baby boomers, and in Canada over 60 percent of small business owners are over the age of 50. That’s a lot of entrepreneurs looking for a payday.
The demand is being driven by a bunch of things, including YouTubers and a growing collection of high-net-worth individuals who believe that a business might be a better asset class to acquire than, say, house flipping.
How high-net-worth? Well, that’s the crazy thing: MacRae tells us on the podcast that perhaps the biggest driver has been the availability of lending capital. In the US, you need as little as 10 percent down to buy an existing business; in Canada, that number is 25 percent if you go with someone like BDC.