Building Legacies, Not Vacancies: New Partnership Safeguards Toronto’s Main Street Economy
Toronto, ON – October 22, 2025 – Across Toronto, thousands of long-standing small business owners are approaching retirement, yet few have a clear plan for what comes next. As these entrepreneurs close their doors without successors, the risk to Toronto’s main streets grows: empty storefronts, lost jobs, and fading main street vibrancy. To confront this challenge, the Toronto Association of Business Improvement Areas (TABIA) is launching a new partnership with SuccessionMatching.com, a Canadian platform that connects business owners with qualified buyers and offers hands-on tools for smooth, successful ownership transitions.
Supporting the Future of Toronto’s Main Streets
Through this partnership, TABIA’s 85 Business Improvement Area (BIA) members will be able to offer their main street businesses discounted access to a Formal Succession Plan service, alongside a free one-year business listing on SuccessionMatching.com. These resources make it easier and more affordable for business owners to find a buyer, protect their legacy, and retire with dignity, while also empowering new entrepreneurs to succeed and invest in their communities.
“We cannot afford to lose the businesses that have built our communities for decades. Without a plan, too many risk closing their doors forever,” said John Kiru, CEO of TABIA. “Every business on our main streets has a story. It’s where people shop for their first suit, grab coffee with friends, or celebrate milestones. Ensuring those businesses can transition successfully isn’t just about retirement, it’s about renewal. This program gives our members a way to secure their future, welcome new entrepreneurs, and ensure our main streets continue to be centres of innovation, culture, and community.”
Why Succession Planning Matters Now
Thousands of business owners across Toronto’s main streets plan to retire within the next 10 years; without adequate succession planning, Toronto’s main streets face growing threats:
- Closures of long-standing businesses, leaving empty storefronts and weakened retail corridors.
- Loss of community identity, as cherished gathering places and services disappear.
- Economic disruption, with fewer local jobs and reduced vibrancy in Business Improvement Areas.
That’s where SuccessionMatching’s experience and reach come in. “In over 14 years, I’ve never seen a partnership come together with such perfect timing. We currently have $681 million in buy-side capital from entrepreneurs actively seeking Toronto businesses — people who are choosing acquisition over starting from scratch,” said Alison Anderson, CEO & Founder of SuccessionMatching. “Through this TABIA partnership, we can connect those ready buyers with thousands of Toronto main street business owners as they prepare to transition. SuccessionMatching will work one-on-one with these businesses to guide them through the process. Together, we’re preserving legacies, protecting Canadian jobs, and ensuring these businesses continue to thrive for years to come.”
Preserving Legacies, Protecting Communities
This collaboration is a strategic investment in the sustainability of Toronto’s main streets. By providing practical tools, financial support, and access to a network of active buyers, TABIA and SuccessionMatching are helping BIAs and their member businesses secure the long-term economic and cultural vitality of neighbourhoods across the city.
About TABIA
The Toronto Association of Business Improvement Areas (TABIA) is a non-profit umbrella organization working with the 85 Business Improvement Areas within the City of Toronto, who in turn represent more than 90,000 business and property owners.
About SuccessionMatching
SuccessionMatching is a technology platform revolutionizing business succession through private, algorithm-based matchmaking between sellers and buyers. With over 2,000 registered buyers representing $681 million in buy-side capital, the commission-free marketplace uses proprietary technology to facilitate confidential connections. The company’s Formal Succession Planning Program prepares owners for successful transitions ensuring they’re ready to engage effectively with buyers. This combination of cutting-edge technology and comprehensive preparation support makes SuccessionMatching Canada’s leading business succession solution.
Media Contacts:
John Kiru, CEO of TABIA
(416) 889-4111
Alison Anderson, President & Founder of SuccessionMatching
(306) 992-5547