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Story summary
- A McKinsey & Company report warns that about 6 million small businesses face ownership-transfer risk as baby boomers retire.
- Service-based businesses, often reliant on individual owners and lacking hard assets, struggle to maintain value and continuity.
- Young entrepreneurs are encouraged to purchase established businesses to inherit existing customer bases and mentorship.
- This approach provides a foundation for future growth and strengthens continuity for customers and employees.
