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Baby Boomers Selling Now

Sean Ward

Updated: Sep 24, 2024




According to recent studies, more than 25 million small businesses are currently owned by baby boomers in the United States. The majority of these businesses are expected to change hands in the next few years, largely due to the baby boomer generation approaching retirement age. Despite this, a significant proportion of small business owners in the United States have limited succession plans in place.


This lack of transition planning could adversely affect not only these businesses but also the US economy as a whole. Small businesses are crucial to the economy, and studies have shown that they play a critical role in job creation and wealth creation, particularly in places like northeast Ohio.


One of the industries that could be severely impacted by this disruption is the manufacturing industry. Small manufacturing businesses play an integral role in the economy of northeast Ohio, with many of these businesses having been passed down through several generations of families. However, without proper succession planning, there is a risk the tradition of these family-owned manufacturing businesses will not continue.


One of the most concerning factors is that many baby boomer owners are not fully aware of the steps they can take to prepare their businesses for a successful transition. They may not be familiar with various tax implications, legal documents, or other important considerations that must be addressed when selling or transferring a business.


This is where Midtown Capital Advisors can guide small business owners through the process and help provide all the resources and advice needed for a successful business transition. Midtown Capital Advisors is uniquely positioned to offer specialized management consulting services to small owners in the northeast Ohio region. They understand the critical role small businesses play in the economic development of local communities and are here to help ensure that these businesses are set up for continued success.


If you or your clients are one of the baby boomer small business owners in northeast Ohio looking to sell or transfer your business, contact Midtown Capital Advisors for a consultation today. Midtown Capital Advisors will help provide the necessary guidance and support, ensuring you're able to make the most informed decisions possible during this critical time.



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