The Wall Street Journal has labeled young entrepreneurs an “endangered species.” This is a serious problem because older entrepreneurs are retiring or shutting their business down at a record pace.
The wave of retiring baby boomers who own closely held private businesses will need to sell their companies, transition them to a new generation of owners -- or risk shutting them down, cutting jobs in the process.
According to project-equity.org, baby boomers own almost half of all privately-held businesses. Small businesses are the lifeblood of our economy, as they make up 99.7% of all firms and provide 48% of all jobs in the United States.
The article below details why there are fewer young entrepreneurs, this means there will be a strong demand for strong young operators from firms like GTE.