The U.S. stands on the brink of an unprecedented wave of small-business ownership transitions as millions of baby boomers retire — creating both economic risk and a rare opportunity for wealth building across communities, according to a new report from the McKinsey Institute for Economic Mobility.

By 2035, about 6 million small and medium-sized businesses will face ownership transitions as their owners retire, the report found.

More than 1 million of these firms are viable candidates for sale, representing up to $5 trillion in enterprise value that could either fuel economic renewal or evaporate through business closures.

Small businesses employ details ⇒

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