“As baby boomers retire, more than 2.3 million closely held businesses that they own are at risk of closing down because of an inability to find someone to take over. These companies employ about 25 million people, spend about US$1 trillion on payroll a year and make about $5 trillion in sales. Surveys show that only a small fraction of retiring owners have a daughter or son who wants to take over the company and is competent to do so, and only a fifth of businesses listed for sale ever sell. That makes selling their businesses to the workers who helped create all the value in the first place one of the best options available. It not only helps secure the owner’s retirement but also leaves behind a legacy in the local community. It has also slowly become more popular in recent decades.”
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It must be noted that Europe and Slovenia face similar problems. Research shows that in the past years, SMEs have created more than 85% of all jobs and employ north of 65% of all active population. And while US is preparing for the silver tsunami with developing employee buyout modes, European Union and its national states are lagging behind.