X @Forbes

Six million small and midsize American businesses are set to be involved in a “great ownership transfer” by 2035 as baby boomers retire, with about 1 million of them expected to be sold in transactions cumulatively worth $5 trillion, according to a report by the McKinsey Institute for Economic Mobility published Thursday.McKinsey calls the coming transfer “a new era of business stewardship,” warning that “without intentional action, many viable small businesses may close rather than transfer ownership.” Lea ...