Small business owners are being encouraged to consider social enterprise as an option in their succession planning.

The Community Sector Council’s Penny Rowe says many of the province’s small business owners are considering retirement in the new few years.

Rowe says businesses like grocers and gas stations are vital to small communities, yet, the business might not be an attractive option for resale.

She’s encouraging business owners and community members to consider social enterprise as an option to keep those vital services going.

She says they know there are about 16,000 small businesses in the province, with many owners planning to retire within the next few years.

She says many communities want to maintain key services, while not-for-profits are trying to find ways to diversify their funding base and generate revenue.

They’re hoping that business owners will consider social enterprise in their succession plans.