News Summary

• JPMorgan Chase surveyed 1,000 business owners and found that while 70% are in the early stages of succession planning, just 8% say they’ve reached an advanced stage.
• Roughly 12 million businesses, representing nearly $10 trillion in assets, are expected to change hands over the next decade.
• The dysfunction isn’t just that baby boomers own an outsize share of American small businesses.
• It’s that they are approaching the exit with something close to paralysis.