New Data Finds Aging Baby Boomers Own Half of Small Businesses in North Carolina; Vast Majority Have No Concrete Exit Plan, Putting Local Jobs and State Revenue at Risk
Retrieved on:
Monday, August 9, 2021
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Developed by Project Equity, the study shows that baby boomers own half of the privately held businesses with employees in North Carolina and the majority of owners have no concrete exit plan, putting local jobs and state revenue at risk.
Key Points:
- Developed by Project Equity, the study shows that baby boomers own half of the privately held businesses with employees in North Carolina and the majority of owners have no concrete exit plan, putting local jobs and state revenue at risk.
- According to the study, business owners nearing retirement age own more than 78,000 businesses in North Carolina and employ approximately 880,000 employees.
- It provides small business ownership data by county and by industry to illustrate how communities across the state may be affected.
- The North Carolina Employee Ownership Center (NCEOC) serves as the central hub for employee-owned businesses in North Carolina.