Business ownership is a core building block toward the American Dream for many people, and Americans are starting businesses at the highest rate on record. Yet small-business owners are facing a growing set of challenges to their success: ongoing economic uncertainty due to erratic leadership from the White House, rising costs from the Trump administration’s tariffs, and a costly tax deduction that disproportionately benefits wealthy business owners. At the same time, an estimated 6 million business owned by Baby Boomers are expected to need to transition ownership by 2035 as their owners retire, raising urgent questions about how to ensure successful business transitions and preserve the local businesses that communities depend on. Ensuring that entrepreneurs can start, sustain, grow, and successfully transition their businesses to the next generation is critical to expanding economic opportunity.
Please join the Center for American Progress on Wednesday, October 28, at 1 p.m. ET for a virtual event featuring small-business experts and owners on the opportunities that come from business ownership, the benefits of tax reform and increased access to capital, the growing need for effective business succession and transition planning, the impact of the Trump administration’s policies on entrepreneurs, and the path forward for the American Dream.