Retiring owners could open a path into business ownership for Latino entrepreneurs, but financing, preparation and finding the right company will shape who benefits.
A massive shift in American business ownership is approaching, and it could create an important opportunity for Latino entrepreneurs.
More than half of America’s small business owners are over the age of 55. Businesses owned by Americans in this age group generate an estimated $6.5 trillion in annual revenue and employ millions of people. Yet many owners have not established a clear succession plan for what happens when they retire.
As this generation prepares to step away, a critical question emerges: Who will take over the businesses they leave behind?
For Latino entrepreneurs, the answer could shape the future of business ownership, wealth creation, and economic mobility in the United States.
According to McKinsey’s 2026 report, The Great Ownership Transfer, approximately six million small and medium-sized businesses could face ownership transitions by 2035. The report estimates that the potential transfers represent up to $5 trillion in enterprise value.
The transition will not necessarily mean six million businesses will be sold. Some will pass to family members, some will be acquired by competitors or new entrepreneurs, and others may close. But the scale of the coming change raises a question about who will have the resources and opportunity to become the next generation of business owners.
An Opportunity for Latino Entrepreneurs
Latino entrepreneurship has become an increasingly important part of the American economy. According to the U.S. Census Bureau, Hispanic-owned businesses with employees generated approximately $730.3 billion in receipts in 2023, across nearly 496,000 firms.
These figures demonstrate the economic significance of Latino business ownership. They also point to a potential opportunity as established business owners approach retirement.
For aspiring entrepreneurs, acquiring an existing business can offer a different path into ownership. Instead of starting from scratch, a buyer may inherit an established customer base, trained employees, existing equipment, supplier relationships, and a recognizable name.
A successful acquisition can also provide a source of income and an asset that may appreciate in value over time. For families seeking to build lasting wealth, owning a profitable business can offer opportunities beyond wages alone.
The question is whether Latino entrepreneurs will be positioned to take advantage of the coming transition.
The Challenge Is Access
Buying a business requires more than entrepreneurial ambition. Buyers need capital, financing, financial records, knowledge of business valuations, and the ability to negotiate with sellers.
These requirements can present significant obstacles to first-time buyers, particularly those who have limited personal savings or difficulty accessing traditional financing.
Even when a business is profitable, its purchase price may put it beyond the reach of an entrepreneur who could otherwise operate it successfully. Buyers must also account for working capital, equipment repairs, existing debt, and the possibility that customers may leave after an ownership change.
Meanwhile, business owners who have spent decades building their companies may struggle to identify suitable successors. Some hope to transfer ownership to their children, while others may need to sell to fund their retirement. Without a succession strategy, a viable business can face an uncertain future.
Connecting these sellers with qualified buyers could help preserve established businesses while creating opportunities for a new generation of entrepreneurs.
More Than a Business Sale
The implications extend beyond individual companies. Small businesses support local employment, provide services and help sustain commercial districts. When a business closes because its owner cannot find a successor, employees and surrounding communities can also feel the effects.
A successful transfer, by contrast, can preserve jobs, maintain customer relationships and keep economic activity within a community.
For Latino entrepreneurs, acquiring established businesses could become one way to expand their participation in industries where building a company from the ground up requires years of investment.
But the opportunity should not be mistaken for a guarantee. Latino entrepreneurs will not automatically benefit from the retirement of older business owners. Access to financing, reliable information about businesses for sale, professional guidance and relationships with lenders and sellers will influence who can participate.
Who Will Own America’s Businesses Next?
The coming ownership transition presents a challenge for retiring business owners and a potential opening for entrepreneurs who want to build something of their own.
For Latino business leaders, lenders, community organizations and policymakers, the question is how to turn that opening into a realistic path to ownership.
That means helping business owners plan their exits earlier, connecting prospective buyers with established companies, and expanding access to the financing and technical support needed to complete acquisitions.
America’s next generation of business owners may include entrepreneurs who build new companies, but it could also include those who take over businesses that already have customers, employees, and deep roots in their communities.
As Baby Boomers retire, the transfer of business ownership could become an important chapter in the story of Latino economic mobility.
The opportunity is significant. Whether Latino entrepreneurs can capture a meaningful share of it will depend on what happens before those business owners walk away.
