Across the US, millions of family-owned businesses are approaching a crossroads. Aging founders are ready to retire, but many heirs don’t want to take over. Long Island dry cleaner Gary Bochner, consultant Christina Wing and investor Jarrett Turner explain why succession planning is so rare, how private equity is reshaping local communities, and what’s at stake as $18 trillion in small-business value prepares to change hands in the coming decades.
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