The Trades Face a Succession Crisis Nobody Prepared For

Source: International Business Times

Brad Ruth, founder of Great Lakes Business Advisors Great Lakes Business Advisors Roughly 12 million businesses owned by baby boomers are expected to change hands over the next decade, representing nearly $10 trillion in assets, according to JPMorgan Chase's 2026 report, as covered by Yahoo Finance. Yet only 8% of owners say they have reached an advanced stage of planning, while 70% remain in the early stages. For the trades, the exposure is sharper.