Silver Surfing: Riding the Wave of Business Successions
By Terri Marshall | Oct 23, 2026 | Finance, Magazine, Professional Services
Photo Credit: Pormezz | Adobe Stock
Roughly 76 million Americans, born between 1946 and 1964, comprised the Baby Boom generation, leading to an unprecedented population surge known as the "Baby Boom." As this cohort ages, the United States is experiencing a significant economic transition: the retirement of one-fifth of the country's population, dubbed the "silver tsunami."
This demographic shift directly impacts business ownership. Baby Boomers own an estimated 2.34 million small businesses in the US, employing over 25 million people. Notably, nearly half of all small business owners are over 55 years old, placing a substantial portion of the nation's privately held companies at a transition point.
Projections indicate that over 12 million businesses could change hands in the next decade, representing a staggering $10 trillion in assets. This abrupt shift highlights the immense magnitude of this moment—a generational transfer of economic control.
While the "silver tsunami" may sound foreboding, it signifies one of the largest wealth transfers in US history. Many of these businesses are profitable, well-established, and deeply rooted in their communities.
This generational turnover presents both risks and opportunities. Entrepreneurs, employees, and even external investors have a rare chance to acquire established businesses with proven revenue streams.
Alaska's Aging Population
Alaska's population is aging rapidly. The number of residents aged 65 and older has more than doubled over the past fifteen years, and their share of the population continues to rise. Thus, Alaska is at the forefront of the wave of business succession, according to staff at Transworld Business Advisors of Alaska, which offers exit and succession planning, business valuations, and sales and acquisition services.
"The silver tsunami began around 2019 and 2020, as Baby Boomers started reaching age 65 at a rate of about 10,000 per day," states Nicholas Mastrodicasa, founder and managing broker of Transworld Business Advisors of Alaska.