Abstract
This paper describes baby boomer small business owner succession as it relates to retirement from the perspective of the baby boomer business owner and society. Small businesses are key contributors to the U.S. economy and workforce. As society anticipates the retirement of the single largest part of the U.S. population, the “boomers,” many small business owners of that generation have, themselves, anticipated retirement. However, few business owners have prepared for retirement with a succession plan. Even in their 60s, many small business owners are delaying their retirement. This paper challenges conventional retirement norms and addresses the phenomenon of retirement through literature. Baby boomer small business owner resistance to succession planning and retirement may not be resistance, per se, but recognition of the complexities created by both baby boomer small business owners and society in addressing this issue.
Recommended Citation
Mitchell, Debra and Rhodes, Kent
(2016)
"It’s Time for Baby Boomer Small Business Owners to Retire: Or is it?,"
Journal of the North American Management Society: Vol. 10:
No.
2, Article 2.
Available at:
https://thekeep.eiu.edu/jnams/vol10/iss2/2