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While most think of startups as new ventures by freelancers or side-giggers, the real shift is happening in the transfer of existing businesses. As Baby Boomers retire at a rapid pace, trillions of dollars in wealth are being passed down to younger generations eager to own established companies. Despite high interest rates, the market for buying small businesses is thriving, driven by factors like low capital gains rates and Millennials’ search for stability amid economic uncertainty.
Read more in The Guardian about why Millennials are turning to business ownership.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
Learn more