304. The coming wave of business transfers

As millions of baby boomer business owners in the United States approach retirement, the country faces a major transition in business ownership. Over the next decade, millions of small and midsize businesses could be sold, transferred, or closed, with major implications for local economies, jobs, family wealth, and economic mobility. In this episode, we hear from partner Ken Yearwood and associate partner Nick Noel about the wave of business transfers on the horizon, the scale of the opportunity, and the risks of avoidable closures. They discuss what this transition could mean for buyers, sellers, private capital, employees, and rural communities, and explore how a broader and more inclusive ownership ecosystem could unlock long-term value. Related insights The Great Ownership Transfer: A new era of business stewardship McKinsey Institute for Economic MobilitySupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information