Entrepreneurs are increasingly delaying retirement by several years, the Globe and Mail has reported.
Whereas before the financial crisis businesses typically fetched more than five times cash flow, now that has fallen to around three or four times cash flow.
The erosion of equity values has meant many business owner can't afford to sell up and retire as soon as they planned - so many are now running their business into their late 60s or even early 70s.
Although this is a Canada-focused piece the phenomenon undoubtedly applies to the US too.
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