BlumShapiro and the University of Connecticut have released a report aimed at evaluating the short- and long-term effects of Connecticut’s aging population on the state’s workforce, business and economy.
Baby Boomers own a large portion of businesses in our state, many of those small and privately owned. With these owners now reaching retirement age, and considering selling or transferring ownership, we can expect a significant transfer of wealth and control. However, the question remains, what effect will this have on our state and its workforce?
This study quantifies Baby Boomer business ownership in our state and begins to outline the effect retirement will have on business transfers and ownership. It also shares what owners need to consider to best position their businesses for sale in what we expect to be a very competitive market.