The Great Transition: A New Way to Re-Think BRE
Communities are facing an unprecedented risk that has gone largely unnoticed – the uncertain transition of their existing industries. Like the companies they try to protect and grow, they are vulnerable during this transition, especially with new complications created by COVID 19. Baby boomer owned businesses drive community economies from employment to reinvesting in their communities. In the US, 10,000 baby boomers reach retirement age every day. This is expected to continue into the 2030s. This means nearly seven baby boomers turn 65 every minute. Boomers own 2 out of 3 of the private businesses in the United States. According to a UBS survey in 2017, 77% of business owners surveyed plan to retire by 2027. The statistics tell a similar story in Canada. With millions of baby boomer owners moving rapidly toward retirement, only 30% have a written plan to transition their business. Is your community prepared to have these crucial economic assets at risk? This session will help you evaluate your community’s risk and learn how you might implement a Ready for Next initiative in your community right away.