With the retirement of the Baby Boomer generation, approximately 30% of the nation's small businesses are set for ownership transfer, representing a pivotal opportunity for younger entrepreneurs. Dubbed the 'silver tsunami', this shift offers Gen-Xers and Millennials a chance to dive into business ownership, as fewer than 15% of these businesses are likely to continue in family hands. Notably, Boomer companies are often more robust and financially secure, presenting less risk for buyers. However, due diligence remains crucial in the process of acquisition.
The current landscape of small businesses is undergoing a transformation driven by Baby Boomer retirements, presenting unique opportunities for younger generations.
Many Baby Boomer-owned businesses are financially stable and less risky, making them appealing purchases for Gen-Xers and Millennials.
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