NEW ENTREPRENEURS SEEK SEARCH FUNDS TO FINANCE TAKEOVERS OF BABY BOOMER BUSINESSES



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By: Heather Endresen, Live Oak Bank No generation has had the impact on small business creation that the baby boomers have had over the past 50 years. As these baby boomers look to retire, a new model of entrepreneurship is emerging and seeking creative funding to take over these existing small businesses. These new entrepreneurs are flocking to the previously obscure search fund model in droves, finding success in securing both debt and equity financing. Boomers Also Created an Unprecedented Small Business Boom The generations that followed the baby boomers gravitated to careers working for the government or larger companies, seeking the security of health care coverage and a regular paycheck—so much so that there is now an entrepreneurial generational gap. This gap is visible when looking at the average age of business owners with under $10 million in annual revenue—which stands at 60 years old. The percentage of such businesses in which the owner is 65 years of age or older peaked a...


#getting funded      #getting started