Many business owners expect to make a significant, “transformational” change for their companies in the next three years, yet 63 percent are without an exit strategy.
That’s the finding of a new report by U.S. Trust, Bank of America’s private wealth- management division. The report states that 54 percent of business owners are considering significant transition changes such as retiring or raising capital for growth. Millennials were the most likely to have exit strategies while baby boomers were the least likely. Earlier this month, the report was the topic of discussion at a forum on merger and acquisitions in the middle market, covered by Providence Business News. To see the full article, click here.