News Summary

• Millions of aging small-business owners are approaching retirement with no real plan for what happens to the businesses they built.
• JPMorgan 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 boomers simply aren't preparing the business climate for the next version of the American Dream.