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Speaker 1: Small businesses the backbone of local communities and employment. But

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Speaker 1: there's a new report that came out that said millions

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Speaker 1: of jobs are vulnerable as a silver tsunami looms over

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Speaker 1: US small businesses. Now, I've heard the phrase silver tsunami

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Speaker 1: referred to healthcare, memory centers, things of that nature. But

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Speaker 1: this report is saying that there are a lot of

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Speaker 1: businesses that are owned by people fifty five and older,

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Speaker 1: and they lack succession plans to pass their companies on

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Speaker 1: and therefore may just be shutting down. Small businesses huge

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Speaker 1: part of the economy. They employ more than sixty two

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Speaker 1: million Americans and make up about forty three percent of

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Speaker 1: the USGDP.

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Speaker 2: Yeah, so think of as I'll use an example that

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Speaker 2: I know.

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Speaker 3: I know a guy that owns an HVAC company heating

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Speaker 3: and air conditioning and plumbing.

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Speaker 2: And electrical and that sort of thing. And he was the.

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Speaker 3: Second generation, So his dad started the business and then

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Speaker 3: he took it over and ran it, and none of

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Speaker 3: his kids have any interest in running it, and so

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Speaker 3: he's kind of stuck, not quite sure what to do

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Speaker 3: with this. He could sell it to, you know, some

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Speaker 3: of the big HVAC companies out there, but he's not

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Speaker 3: quite sure what to do with this, And so that's what.

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Speaker 2: This is talking about here.

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Speaker 3: So think of small business owners like that, small retail organizations,

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Speaker 3: small service owners like HVAC and plumbing and heating and

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Speaker 3: air conditioning.

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Speaker 2: Those are who are that this article is talking about.

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Speaker 1: So they're saying that without some clear plans for leadership transition,

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Speaker 1: millions of jobs could be at risk if these businesses close.

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Speaker 1: Instead of transferring ownership and the owners they often build

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Speaker 1: these decades long customer relationships and that is hard to

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Speaker 1: replace as well. Many buyers aren't lined up to take over,

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Speaker 1: and even if you did have a buyer that was

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Speaker 1: lined up to take over, that built in relationship is

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Speaker 1: no longer there.

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Speaker 3: Well, here's what a lot of these and I think

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Speaker 3: that what you'll end up seeing is is a lot

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Speaker 3: of these small business owners that try to sell to

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Speaker 3: people that are already working in their business.

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Speaker 2: Yeah. So if you've got somebody, if I'm a small

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Speaker 2: businesswamily member, maybe an employee.

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Speaker 3: Exactly, if I'm a small business owner and I've got

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Speaker 3: you know, you know, my right hand guy or somebody

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Speaker 3: else who really kind of has been there a long

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Speaker 3: time and knows the business. And the good thing about

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Speaker 3: this is a lot of times some of these small

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Speaker 3: business owners will finance it already.

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Speaker 2: So if you're sit here.

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Speaker 3: Said, well, I've got this HVAC company and it's worth

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Speaker 3: three million dollars, and I'm an employee, and I'm like,

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Speaker 3: I don't got three million dollars and I don't have

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Speaker 3: any assets, and there's no way a bank's going to

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Speaker 3: give me three million dollars. A lot of times, because

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Speaker 3: these are small businesses and because you've got these great

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Speaker 3: personal relationships, that business owner will go, Okay, here's what

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Speaker 3: i'm gonna do. I'm gonna sell it to you, and

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Speaker 3: I'm gonna do the financing on it, and you'll pay

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Speaker 3: me X dollars over X years until you pay it off.

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Speaker 4: I have.

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Speaker 3: My guess is that's what's going to happen. You'll see

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Speaker 3: a lot of these hopefully transition to employees that work

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Speaker 3: in those small panies.

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Speaker 1: Well, if too many of them walk away without a

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Speaker 1: succession plan, the jobs they created, they're gonna vanish along

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Speaker 1: with them along it's gonna hurt workers and families and everybody.

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Speaker 1: But we've heard people like the Xenils or the millennials saying, oh,

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Speaker 1: you boomers need to get out of the way, step

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Speaker 1: out of the way. Well, now the younger generation, gen Z,

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Speaker 1: they're coming for gen X as well, telling gen X

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Speaker 1: to sit down so that they can have employment. But

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Speaker 1: here's this guy and he does not agree. He says

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Speaker 1: gen X can't sit down.

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Speaker 2: It's time for boomers and gen X to sit down.

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Speaker 4: Oh you want the boomers and gen X to sit down, Well, sweetheart,

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Speaker 4: gen X would love to sit down. We fantasize about it.

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Speaker 4: We dream about it the way you dream about becoming

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Speaker 4: a digital nomad after quitting your third job this quarter.

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Speaker 4: You think we're standing because we crave control. No, we're

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Speaker 4: standing because if we sit down, the Wi Fi goes

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Speaker 4: out the payroll for He's as the lights flicker and

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Speaker 4: somebody schedules a mental health summit discuss why the printer

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Speaker 4: feels unheard. Gen X isn't is in charge? We're not.

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Speaker 4: We're just the ductape holding all the dysfunctional daycare together.

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Speaker 4: We're not CEOs. We're the CPR, the child of generations.

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Speaker 4: The boomers built it and gen Z critiques it, and

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Speaker 4: we're in the basement reset and the damn breaker because

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Speaker 4: somebody microwaved a pop tart and the foil again. You

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Speaker 4: want us to sit down, cool, take the wheel, But

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Speaker 4: historically speaking, some of y'all can't even hold a job

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Speaker 4: longer in a seasonal pumpkin spice release without posting a

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Speaker 4: resignation reel about toxic vibes from Linda because she didn't

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Speaker 4: validate your aura. You don't want to run the world.

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Speaker 4: You just want to rebrand it. You don't want responsibility,

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Speaker 4: you want reimagining. You don't want a full work day,

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Speaker 4: you want a flexible framework featuring feelings, ferns, and frequent

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Speaker 4: feedback and listen. Change is fine. Progress is good. We

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Speaker 4: like progress, but progress requires perseverance, and perseverance requires staying

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Speaker 4: at something longer than two months without announcing I'm pivoting.

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Speaker 4: You say, sit down, like we're hogging the throne, But baby,

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Speaker 4: there ain't no thrown. It's a folding chair from ninety

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Speaker 4: seven with one lay short than the other, and we've

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Speaker 4: been balancing on it since before dial up. We don't

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Speaker 4: want power, we want peace. We don't want control. We

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Speaker 4: want a damn nap. But until somebody proves they can

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Speaker 4: work a full shift without needing a spirit journey and

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Speaker 4: a slack announcement about their boundaries. We're just gonna stay

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Speaker 4: standing because not because we think we're better, but because

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Speaker 4: if we don't, everything stops. And sweetheart, we're tired, but

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Speaker 4: we ain't stupid.

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Speaker 1: Somebody microwaved a pop tart in the foil again.

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Speaker 3: So I'm the one that's got a Gen X has

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Speaker 3: got to be the one to go downstairs in the

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Speaker 3: basement reset the breaker.

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Speaker 2: Look.

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Speaker 3: I may be biased here as a member of Generation X,

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Speaker 3: but I mean, come on, we are the best generation ever.

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Speaker 2: I mean, is it even really all that close? I mean,

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Speaker 2: come on, we're this far. We just want to be

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Speaker 2: left alone. Well, we're the forgotten generation. So we're the smallest.

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Speaker 3: Baby Boomers had this massive population, and then Gen X

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Speaker 3: had dropped off dramatically, and then the children of the

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Speaker 3: Baby Boomers, the Millennials, they had.

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Speaker 2: A huge population surge.

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Speaker 3: There's a ton of the population group in Gen Z

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Speaker 3: and us Gen xers are sitting here. We're just kind

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Speaker 3: of like the little guys that just keep plugging along

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Speaker 3: with our heads down, not trying to get too much attention.

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Speaker 3: Everybody ignores us and forgets we'reriven here and meanwhile we're

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Speaker 3: just keep chugging along and chugging along.

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Speaker 1: I don't like how the original guy he he put

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Speaker 1: gen X in with boomers.

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Speaker 2: Totally different. Yeah yeah yeah.

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Speaker 3: They don't even try to lump gen X with boomers.

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Speaker 3: Don't don't dis denigrate the name gen X by lumping

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Speaker 3: us in with baby.

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Speaker 1: Totally different generation, different experience altogether. You're listening to ninety

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Speaker 1: three WYBC