Mark Osborne explains why three million baby-boomer-owned businesses face exit decisions soon. Baby-boomers now 64-65 own half of America's six million privately-held businesses. Most owners lack succession plans, creating what Osborne calls the "Boomer Bust."
There's a couple of things with the tsunami and what we were talking about 12, 15 years ago. And I spoke all over the country at that time. I had a presentation called Beating the Boomer Bust that I did for thousands of business owners around the country. And yes, we were predicting that at that time, the 6 million businesses with privately held businesses with employees in the United States, boomers were no less than 50 years old and they own 2/3 of them. Now the boomers are no less than 64 years old, I guess. Mm-hmm. 65 years old this year. And they still own about 50% of them. So that number is fairly static. The number of entries, I've done a lot of research on the SBA stats. A few hundred thousand come in every year. A few hundred thousand go away every year, but it's 6 million seems to be about the number. And so you still have a lot of aged boomer owners. And a lot of this is in my book, Your Exit Map: Navigating the Boom or Bust.
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