The states with the oldest and youngest business owners
1 Dec 2019
For a while now, there’s been concern about what will happen when baby boomer business owners retire. Known as the “silver tsunami,” this wave of retirees could bring with it a number of shuttered businesses, or companies that sell out so owners can reap the benefits of their investments. This would keep those businesses out of the hands of younger, new owners and leave employees needing to find new jobs.
According to a new study based on Census Data conducted by WorkWise, a business management software provider, these concerns are pretty well founded-but don’t lament the loss of small, boomer-owned businesses just yet. While baby boomers still own the most businesses in the U.S., Gen X members aren’t too far behind. Millennials, however, still have a lot of catching up to do.