Among Baby Boomers, 43% cited lack of necessity or time as primary barriers, aligning with benchmarks from similar studies like the 2013 EPI report, where over 70% of owners lacked formal exit plans.
millenials
millenials
Exit Strategy: A Growing Priority for Younger Business Owners
The 2023 National State of Owner Readiness Report highlights a generational divide in business exit planning. Younger business owners—specifically Millennials and Generation X—are significantly more proactive in preparing for their eventual exit compared to Baby Boomers. This shift reflects a broader cultural and financial reality. Baby Boomers often built businesses from scratch, focusing primarily on […]