BY JIM SUGARMAN
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 percent of small-business owners don’t have an exit plan and 54 percent intend to leave in 10 years. We have a succession crisis.”
“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 new model to create and fund startups by merging youth and experience.
Intergenerational entrepreneurship is the solution to the succession crisis facing millions of Boomers who own small businesses throughout the U.S.
Thank you, Bob Roark, executive producer and host of Business Leaders podcast, for reminding me how intergenerational entrepreneurship benefits individuals, economies and society.
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 percent money back guarantee to find your intergenerational co-founder in six months and pitch to angel investors three months later.
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