Jason Jackson always wanted to be an entrepreneur, but he lacked the resources and ideas to start a business. So, when he discovered an investment vehicle called a search fund while studying for his MBA, he went all in.
As millions of baby boomers prepare to retire, a quiet crisis — and an unexpected business opportunity — is unfolding across the economy. Today, over half of all U.S. small businesses are owned by people aged 55 and over, yet most lack a succession plan, according to Gallup.
These businesses are often unglamorous, but essential to keep society running: plumbers, equipment rental companies and pest control.
“They’re the types of companies that if they drop what they do, it would really hurt,” said Jon Staenberg, founder & CEO of Agate Hound Fund.
Enter the next generation of entrepreneurs — millennials and Gen Zers — who are seizing this moment not by launching startups, but by buying companies through search funds. In doing so, they’re revitalizing Main Street businesses and solving a looming succession crisis, all while building wealth in a turbulent economy.
