Current and prospective business owners in Shropshire are being urged to prepare for a generational opportunity.

Cian Iddison is a Business Advisory Specialist at Dyke Yaxley Chartered Accountants in Shrewsbury, and he said the UK had reached a critical handover point in business ownership.

“As ‘baby boomer’ business owners now approach retirement, hundred of thousands of small and medium-sized enterprises (SMEs) face an uncertain future.

“Many of these SMEs are profitable, community-rooted businesses that have stood the test of time, but without succession plans in place many may be forced to close down.”

Cian said at the start of this year, more than 1 in 4 active companies in the UK and Ireland had an average director age of 55 or older – that’s over 1.5 million businesses.

“A significant number of these businesses are employers, which means thousands of jobs are at risk if new owners cannot be found.

“So it’s vital that as many of these businesses as possible can continue beyond their current owners’ governance – and this process creates a huge opportunity for current and prospective business owners.”

Cian said many aspiring entrepreneurs concentrate on starting a business from scratch, but reports show that 60 per cent of new businesses fail within the first three years.

“This is where entrepreneurship through acquisition is key – instead of starting from scratch, buyers step in to acquire well-established, profitable, and cash-flowing businesses.

“Through this process, buyers are able to inherit businesses with established reputations, existing customers and proven revenue streams, while preserving jobs and rewarding sellers for their years of hard work.”

Cian said buying businesses may sound expensive, but the deal could be structured in many different ways to meet the needs of both the buyer and the seller – through external financing on business assets, or staged payments using future profits or the surplus cash inside the business, all of which reduce the buyer’s capital requirement.

“For sellers, this approach offers peace of mind, and rather than closing their doors, they can ensure their legacy is protected. For buyers, it’s a faster route into entrepreneurship with a foundation already in place.

“The so-called “Silver Tsunami” is not just a demographic trend – it’s one of the greatest opportunities for wealth transfer and business continuity in our time. The challenge now is connecting the right buyers and sellers, and facilitating smooth transitions that benefit businesses, employees, and communities alike.”