Nonprofit Takes Leadership Role to Address Business Succession “Tsunami”

By Steve Dubbs

Here at NPQ, we have noted that a business ownership succession wave—often
called the “silver tsunami”—is rising. According to the nonprofit Project
Equity, nationally “baby boomers own 2.34 million businesses, employ 24.7
million people, and have combined annual sales of $5.14 trillion.”
Sadly, 80 percent of these businesses lack succession plans.