UPDATE for BUSINESS OWNERS
Food for Thought
We asked business owners about how they plan to exit their companies, giving them a range of choices from shutting down their companies to passing their businesses to their kids or selling outright.
Boomers were more inclined to envision selling their businesses to a third party (62.5%), compared to 55.8% of all owners, reinforcing the idea that boomers’ first priority is to maximize their take from a sale.
Just 9.9% of boomers plan to stay in their businesses for at least ten more years, compared to 18.1% of all owners.
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