Boomers pining not for retirement, but to start new business: survey

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OTTAWA - A new survey from TD Canada Trust suggests baby boomers have one more career move in them before they retire — they want to run their own business first.

The survey found 54 per cent of boomers polled have or are considering starting a firm, whether it's consulting, buying into a franchise or operating a specialty firm.

TD Canada Trust says the top reasons respondents gave include the benefits of being their own boss and the sense of personal accomplishment a new venture would bring.

Their top concerns include the challenge of obtaining credit and fears of taking on more debt, along with whether they would be successful.

The data is consistent with a recent report from CIBC that found a record number of Canadians had begun their own business over the past two years, with those over 50 responsible for about a third of the new enterprises.

Organizations: TD Canada Trust, CIBC

Geographic location: OTTAWA

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