Community Futures Lambton is preparing to launch a new program to save Sarnia’s legacy businesses as a demographic wave of retirements approaches. CEO Sarah Reaume warns that nearly 2,600 local owners are set to exit the market in the coming decade, with few having a plan in place.
A quiet economic crisis is building in Sarnia-Lambton, and unlike a sudden market crash, this one is driven by the slow, inevitable march of demographics. According to data from Community Futures Lambton, nearly 2,600 local business owners are expected to exit their companies within the next ten years.
Despite this looming shift, only 10% of those owners currently have a formal succession plan.
Sarah Reaume, CEO of Community Futures Lambton, warns that failing to prepare for this transition could do more than just close doors; it could fundamentally alter the community. "The reality of it cannot help changing the character of our Lambton County communities, many of which are anchored by legacy businesses that are deeply woven into the fabric of our communities," Reaume says.
Reaume draws a sharp parallel to the housing crisis, noting that advocates sounded the alarm on affordable housing over a decade ago. She fears a similar scramble is approaching for the local economy, where unprepared owners may simply close up shop rather than sell, causing the region to lose vital services and jobs.
To mitigate this, Community Futures Lambton is launching "BizLink" in January 2026. The program is a confidential matchmaking service designed to connect business sellers with potential buyers across Western Ontario.
The initiative was piloted successfully in Simcoe County, where it facilitated nearly 100 business transitions over five years. Reaume hopes to replicate that success here by addressing the primary fear that keeps owners from listing their companies: privacy.
Many owners hesitate to put up a "For Sale" sign for fear of spooking employees or customers. BizLink allows for anonymous listings—such as "a Hardware Store in Sarnia" rather than a specific business name—which creates a buffer that protects daily operations while the owner seeks a buyer.
Reaume notes that selling a business often requires a "3+ year runway" to maximize value and manage tax implications. When owners wait until a health crisis or family emergency forces a sale, they often leave money on the table or simply liquidate assets.
The program also aims to support young entrepreneurs. While approximately 30 to 35% of new startups fail within their first five years, buying an existing business significantly reduces that risk.
"A business that has already survived 5+ years typically has a higher proof of demand, has existing customers and cashflow along with existing systems, suppliers and staff," Reaume explains.
Reaume will present the plan to Sarnia City Council on December 15. She is not requesting municipal funding, but rather support in normalizing the conversation around succession planning.
Community Futures Lambton will offer free coaching to help owners prepare their businesses for sale, including valuation and marketing support.
Reaume stresses that the numbers don't lie. "This is a reality that is coming our way," she says. "There isn’t an 'if' about it".
