Two-thirds of small biz owners plan to retire within 10 years
September 16, 2014 by Warren S. Hersch
New research from Asset Life Settlements points to an increase in the supply of corporate-owned life insurance (COLI) policies brokered in the secondary market due to business owners seeking to cash out and retire.
“The improving economy and financial performance of small businesses is the driving force behind the recent spike in the sale of small businesses by aging owners,” says Scott Thomas, co-founder of the company. “Economists estimate that 70 percent of the 12 million privately owned businesses in the U.S. will change hands as baby boomers retire in the next decade. Click here to read…