From Newsweek · · 1m
Small logistics firms need succession plan
America's small logistics businesses face retirement without buyers.
In brief
America's small logistics businesses face retirement without buyers. Six million small logistics firms could close by 2035 as baby boomers retire without successors. Originally reported by Newsweek.
Supply chain crisis
The next supply chain crisis may begin with small logistics businesses closing permanently.
Small business ownership
Six million small and midsize logistics firms could face ownership transitions by 2035 as baby boomers retire.
Exit outcomes
92 per cent of small business exits end in closure, compared with only 5 per cent through sales.
Logistics consequences
When a transportation company shuts down, employees lose jobs and communities lose employers.
Succession options
A retiring owner can sell to an industry veteran, employee, or first-time owner with the right partner.
Economic impact
Effective ownership transitions could keep 12 million jobs and protect $250 billion in annual local spending.
Action needed
Owners should prepare now by documenting processes and finding qualified buyers before closing.
In short
Six million small logistics firms could close by 2035 as baby boomers retire without successors.
