Forbe's article Don't Leave Money on the Table discusses aging baby boomers selling their small businesses to retire. Interesting data point on the number of small business transactions done each year:
"Hard numbers on overall small-business sales aren't available, but small-business brokers believe that between 6,000 and 10,000 companies--most worth under $5 million--change hands every year in the U.S."
Also interesting is who is buying. According to the article the buyers are younger boomers and older Gen Xers leaving corporate life, often not at their choice:
"a crush of new small businesses will begin hitting the market as baby boomers approach retirement age. Among the potential buyers are thousands of laid-off corporate executives looking to take a crack at entrepreneurship."
The article has lots of good advice on the sales process.
Hi to all
very interesting news. they might not needed to sell their biz if they had a healthy online presence.
Greetings G.
Posted by: G. - A Wealthy Affiliate Member | May 29, 2008 at 02:38 PM
Steve, a former corporate colleague and friend of mine is a business broker in a small town in Ohio and business is booming.
He says that Baby Boomers have been his staple ever since he started almost 10 years ago. Either as buyers of businesses (corporate refugees and the like) or as sellers because they are getting ready to retire.
Anita
Posted by: Anita Campbell | June 02, 2008 at 05:43 AM
As a writer and assistant editor at Hello Boomers Magazine http://www.helloboomers.com, I come accross many subjects and issues important to baby boomers. The boomers have many questions and concerns and a website like yours is an important source of information related to their specific situation.
Posted by: Dan Skriver | June 05, 2008 at 11:33 AM