One of the moments that seemed to resonate most yesterday was the Silver Tsunami slide — and the annotations that came with it. So here’s the data, cited and on record:

• Baby Boomers own approximately 41% of all privately owned small businesses in America — roughly 12 million businesses, employing over 25 million workers and representing 1 in 6 jobs in the U.S. economy. (SCORE / SBA)
• 10,000 Baby Boomers reach retirement age every single day — and an estimated $10 trillion in business assets will change hands over the next decade. (Pew Research / IBBA)
• Over 60% of those owners have no written succession plan. (Exit Planning Institute, 2023 State of Owner Readiness)

That’s not a problem waiting to happen. It’s already happening. The question is who’s at the table when it does.
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Here’s a short recap of what the panel covered:

The Search
• Off-market deal flow is real — but it requires trust-building, not just outreach.
• Fundable businesses look different than great businesses. Learn to tell the difference early.
• The best searchers know their thesis before they start looking.

The Capital Stack
• SBA 7(a), senior bank debt, and mezzanine capital can work in concert — but sequencing matters.
• Seller financing is underused and often the most flexible piece in a lower middle market deal.
• Lenders are underwriting the operator as much as the business. Come prepared.

The Close
• Most deals don’t die at the LOI. They die in the 90 days after it.
• What sellers need to feel before they sign is just as important as what the numbers say.
• Reps, warranties, and earnouts are relationship documents as much as they are legal ones.

The Operator
• Day 1 culture sets the tone for everything that follows. Don’t wait to establish yours.
• The prior owner is either your greatest asset or your greatest liability in the transition — you decide which.
• The first 100 days are not about changing things. They’re about understanding what you actually bought.
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View the slides here.

Grow Michigan’s mission is as simple as it is urgent: Grow Michigan. Not in the abstract. In the specific — businesses funded, owners transitioned, jobs retained, communities stabilized. Yesterday was a step in that direction.

We’re already thinking about what comes next. If you have ideas, connections, or a deal you’re working through, reach out. This is an open door.