Succession Planning for Small Businesses

Posted by Ben Smith on August 3, 2017

Ben Smith

Fact:  12 million baby boomers will attempt to transition from their workplaces in the next five to 10 years.  This has significant meaning for the millions of families who could be impacted if business owners are not taking the steps to prepare their businesses for the mass transition. Projection:  There are nearly 80,000 million US baby boomers, so if we assume a typical rate of retirement, this population will retire at a rate of more than four million per year through 2029.  With approximately 28 million small businesses, more than 70% will change hands in the near future, …

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Benjamin Smith

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