Recent studies show that 66% of the current American business market is owned by Baby Boomers, who are set to transition over the next zero to ten years. Statistics also show that only 20 to 30% of businesses that go to market sell; leaving up to 80% of those without solid options to harvest their wealth and ensure economic continuity into the next generation. An owner who is “ready” with an attractive business greatly increases the odds that the business will survive a transition of hands. The question is, how ready is Colorado?
The Colorado Office of International Trade and Economic Development is asking for business owners to partake in a survey to understand ways local communities can assist businesses that may be looking to transition in the coming years. The survey takes 12 minutes to complete, and your answers are completely confidential. The research results will be released on May 9, 2022.
This research is a collaborative effort between the Exit Planning Institute, the Colorado Employee Ownership Office at the Office of Economic Development and International Trade, and the EPI Rocky Mountain Chapter.
Thank you for your time and contribution to this significant research project.
Click here to take the survey: https://www.surveymonkey.com/r/2022-colorado-state-of-owner-readiness