One of the least known business statistics is this: there are approximately seven hundred thousand mature, established, and profitable small and medium-sized businesses (SMEs) owned by Baby Boomers in the UK.
Born between the end of WWII and the early 1970s, this generation of innovators formed many of today’s established businesses over a 20-year period. These mature SMEs have carved out niche trade positions in established markets and are the backbone of regional economies and employment.
As SMEs reach maturity and their founders consider a graceful retirement from commercial life, they should at least have the opportunity of selling their businesses for fair value to the managers and employees who have worked for them for many years.
As future custodians of each SME’s legacy, there should be an opportunity to maintain its regional location, its private status and continue to provide gainful local employment.