04/23/2024

As Baby boomers Retire, Younger Entrepreneurs Can Take Over

Great boomer business sell-off is underway

For years, studies have projected a wave of small businesses will change hands in the U.S. as a "silver tsunami" of aging Baby Boomer entrepreneurs retire.

But the COVID-19 pandemic, high inflation, rate hikes and other economic disruptions and uncertainty have caused jitters for aspiring buyers and sellers alike. Now, evidence shows the great boomer business sell-off is underway, and it is far from complete.

A study from Forrester last year showed that younger generations, those born in 1980 or later, now make up the majority (64 percent) of small business buyers globally.

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