The Canadian Federation of Independent Business says 47 per cent of business owners who are baby boomers intend to retire within the next five years and 72 per cent within the next 10 years. Darla Lindbjerg, CEO of the Saskatoon Chamber of Commerce says Saskatoon will see less of an impact from the number of baby boomers retiring given that the city has a high number of young people as residents. Lindbjerg says that means there will be a lot of opportunities for youth to get involved in owning a business when the older generations start retiring. When it comes to the CFIB saying that 51 per cent of owners surveyed, don’t have a succession plan, the CEO says that’s because a lot of business owners don’t want to have a formal succession plan written out due the fact that it may look like they’re getting ready to get out of their business and a lot of owners don’t want that yet. The CFIB says only around eight per cent of owners surveyed have a formal plan while 41 per cent have an informal plan.