Baby Boomer retirements are creating a massive wealth-transfer moment — and an unexpected opportunity for Black entrepreneurship.
Known as the “Silver Tsunami,” the phenomenon refers to the growing number of aging business owners preparing to retire without succession plans in place. With more than half of U.S. business owners nearing retirement age, experts say the shift could open alternative pathways for Black entrepreneurs to achieve business ownership through acquisition and succession rather than starting from scratch.
For more than 50 years, the Famous Amos cookie brand has represented the passion and unwavering belief of its creator, Wally Amos. Continuing Wally’s legacy, the brand is ramping up for its sixth annual Ingredients for Success (IFS) Initiative, investing in the next generation of Black business owners.