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Suggest questionProject Equity CEO, Evan Edwards, talks about the Silver Tsunami of retiring business owners and what it could mean for the racial wealth gap at the 2023 Employee Ownership Equity Summit.
Transcript from YouTube captions. May contain errors.
I'm Evan Edwards project equities chief executive officer and [Applause] we're at an inflection point in U.S economic history Baby Boomers who own the vast majority of small businesses with payrolls are retiring in the next 10 to 15 years at the same time we're seeing unprecedented a gap in economic mobility in this country and as such we see an opportunity and that opportunity is to leverage those businesses that would otherwise maybe shut down I think I noted earlier this week that there are roughly 16 000 businesses for sale on the various platforms right now there'll be 50 000 businesses that are sold or that will that will be listed for sale in the coming year many of them in communities that you all come from and the thought is that if we are able to activate employee ownership in the way that we think that we can then a good number of those businesses will be sold to the the workforces and many times at least from Project equities Mission perspective workforces that are representative folks of color and low and moderate income the opportunity for us to be here for you all to to be here today is again to understand the power of employee ownership and everyone here should be able to walk away and either influence or activate employee ownership in some way in their Community after you leave [Music] [Applause]
About Project Equity
Project Equity is a national leader in the movement to harness the power of employee ownership to provide business owners with an accessible succession plan, preserve legacy businesses, strengthen local economies, and increase wealth among workers.
Project Equity works with partners around the country to raise awareness about employee ownership as an exit strategy and provides hands-on consulting and capital in addition to offering accredited continuing education for business advisors.
Use the links below to learn more.
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