Now’s the Best Time to Sell a Business and Retire, but Many Baby Boomers Are Waiting

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Just as those who survived the Great Depression, small-to-moderate business owners today are particularly hesitant when it comes to selling their businesses. It’s understandable. In recent years, they’ve seen the biggest Ponzi scheme in history, a sub-prime lending crisis that caused an epidemic of housing foreclosures, giant banks and insurance companies collapse, and scandals in the financial sector such as Martha Stewart’s insider trading and the fall of Enron. Additionally, medical advances have allowed people to stay active and productive longer in life. It makes sense to hang onto a thriving business and collect a few more years of steady income. But successfully selling a business is as much about market timing as selling any other asset like stocks or real estate. If baby boomers should know one thing, what goes up, must come down. All business is cyclical.  While the economy is experiencing a quick recovery, many experts are encouraging business owners to consider their exit strategy seriously.