With no successor for the family business, what should retiring baby boomers do?
Inside Sources - 05/23/2017
“In this latest survey, far more businesses told us that, instead, they’ll be seeking buyers outside the family within the next several years — nearly one-third of respondents, compared with 19 percent two years ago,” the survey found.
But Ted Clark, director of Northeastern University’s Center for Family Business, said owners without another generation to pass the company over to is not necessarily a new trend. He said it’s part of the “cycle of family businesses.”