Canada is in the midst of a historic change to its workforce as more and more baby boomers move towards retirement. A CIBC report estimates that by 2022, half, or around 550,000, of all business owners will retire. Yet close to 60 per cent of business owners aged 55 to 64 haven’t started succession planning.
Planning for tomorrow, the John Molson School of Business (JMSB) is equipping the next generation of business owners and entrepreneurs with the skills they will need to run businesses when the baby boomers retire.
A new Certificate in Business Ownership will walk aspiring business owners through the different steps to acquire a business. The program starts in January 2017.
Taking a unique approach to teaching, JMSB offers a multitude of hands-on learning experiences. The Concordia Small Business Consulting Bureau helps MBA students become consultants for businesses in the greater Montreal area. Students get the opportunity to learn what it takes to run their own consulting business and connect with the city's business community, all while earning academic credit and income.
Any entrepreneur will tell you that networking is the key to running a successful company. JMSB offers its students various opportunities to connect with industry leaders. In some cases, students don't even need to leave Concordia’s Sir George Williams Campus to connect with seasoned professionals. Concordia's National Bank Entrepreneur-in-Residence, Greg Adelstein, has worked in high-tech start-ups for over 15 years. Adelstein is at JMSB to guide students with a budding business idea.
Other programs, like the Dobson Practicum, pair students with business mentors to help get their fledgling businesses off the ground.
JMSB is also conducting research that informs the decisions of business owners everywhere. The National Bank Initiative in Entrepreneurship and Family Business provides funding for research projects that investigate topics like succession planning and the role of family businesses in the Canadian economy.
Throughout this week’s Spotlight on Business Ownership, discover how Concordia’s John Molson School of Business is developing the next generation of business owners and entrepreneurs and how it is leading the way in business ownership research.
Several experts are available for interviews on JMSB’s training and research on business ownership.