Intergenerational Entrepreneurship Solves Succession Crisis in Boomer Businesses

Boomers to Sell $10 Trillion of Assets Over the Next Two Decades (Source: California Association of Business Brokers)

In an article for Forbes, "Baby Boomers Are Selling Their Businesses to Millennial Entrepreneurs, and It's a Brilliant Idea," Jason Duff, CEO of COMSTOR Outdoor, states:

• "Experts estimate that millions of baby boomer entrepreneurs will close or sell their business in the next decade.
• A 2016 survey of small businesses in the United States indicated that 72% of small business owners don’t have an exit plan and 54% intend to leave in 10 years. We have a succession crisis."

He concludes:

• "Instead of just letting businesses close down, we need more millennials who can identify these opportunities, buy into them and grow them.
• These baby boomer businesses often have no debt, loyal customers and tested and proven business models.
• You might not even need to go to the bank, as the seller may be the one financing the sale of the business."

Intergenerational entrepreneurship is the solution to the succession crisis facing millions of Boomers who own small businesses throughout the US!

Merging youth and experience is the perfect match:

Boomers looking to sell and even finance the sale of their businesses... to tech savvy Millennials who are disengaged at work, saddled with college debt, and who bring complementary perspectives and skills to the business.

Thank you, Bob Roark, Executive Producer and Host of Business Leaders Podcast, for reminding me how intergenerational entrepreneurship benefits individuals, economies and society.

4GenNow Update

If you're looking for an intergenerational co-founder with complementary skills or experience, perspectives or connections to launch/scale a startup, or even sell an existing business to... 4GenNow offers a 100% money back guarantee to find your intergenerational co-founder in 6 months (and pitch to angel investors 3 months later)!

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