Boost growth, preserve legacy, and build generational
wealth through inclusive M&A strategies.
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About the Whitepaper
INTRODUCTION
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In today’s increasingly interconnected economy, growth is more than a goal: it’s a necessity for small and mid-sized firms trying to stay competitive. Yet for many of the smallest businesses, crossing the million-dollar revenue threshold or building a workforce beyond 50 employees remains out of reach. These benchmarks are seen as aspirational, when in reality, they should be attainable. Proven, sustainable strategies can help firms scale, and when applied effectively, these strategies don’t just boost individual businesses—they lift entire communities and contribute to a more resilient national economy.
One of the most overlooked among these strategies is mergers and acquisitions. M&A, the consolidation or transfer of business ownership between firms, has long served as a powerful growth engine. As illustrated in figure 1, more than 325,000 mergers and acquisitions have been announced globally, totaling nearly $35 trillion in value since 1985. Today, the global M&A market is valued at over $10 trillion. And yet, Black-owned businesses remain largely absent from this landscape as seen in figure 2.
The reasons are not surprising, but they are unacceptable. Black business owners face structural barriers that limit participation in M&A: limited access to capital, smaller networks of advisors and buyers, and minimal policy attention at the federal level. These obstacles don’t just block acquisitions; they also prevent smooth exits, transitions, and legacy planning. As a result of limited M&A opportunities, Black businesses are forced to shutter, destroying chances to develop generational wealth and harming communities.
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About the Whitepaper
INTRODUCTION
arrow_drop_down_circle
Divider Text
In today’s increasingly interconnected economy, growth is more than a goal: it’s a necessity for small and mid-sized firms trying to stay competitive. Yet for many of the smallest businesses, crossing the million-dollar revenue threshold or building a workforce beyond 50 employees remains out of reach. These benchmarks are seen as aspirational, when in reality, they should be attainable. Proven, sustainable strategies can help firms scale, and when applied effectively, these strategies don’t just boost individual businesses—they lift entire communities and contribute to a more resilient national economy.
One of the most overlooked among these strategies is mergers and acquisitions. M&A, the consolidation or transfer of business ownership between firms, has long served as a powerful growth engine. As illustrated in figure 1, more than 325,000 mergers and acquisitions have been announced globally, totaling nearly $35 trillion in value since 1985. Today, the global M&A market is valued at over $10 trillion. And yet, Black-owned businesses remain largely absent from this landscape as seen in figure 2.
The reasons are not surprising, but they are unacceptable. Black business owners face structural barriers that limit participation in M&A: limited access to capital, smaller networks of advisors and buyers, and minimal policy attention at the federal level. These obstacles don’t just block acquisitions; they also prevent smooth exits, transitions, and legacy planning. As a result of limited M&A opportunities, Black businesses are forced to shutter, destroying chances to develop generational wealth and harming communities.
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The Silver Tsunami
A MOMENT OF OPPORTUNITY
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The United States stands at the threshold of the largest generational wealth transfer in modern history. As Baby Boomers retire, nearly half of all U.S. small business owners will soon decide whether to sell, shutter, or transition their companies. This shift, widely known as the ‘Silver Tsunami,’ represents an estimated 60% of small business owners nearing retirement who lack a formal succession plan. This represents a $10 trillion opportunity - or risk - for generational wealth and community preservation.
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The Silver Tsunami
A MOMENT OF OPPORTUNITY
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The United States stands at the threshold of the largest generational wealth transfer in modern history. As Baby Boomers retire, nearly half of all U.S. small business owners will soon decide whether to sell, shutter, or transition their companies. This shift, widely known as the ‘Silver Tsunami,’ represents an estimated 60% of small business owners nearing retirement who lack a formal succession plan. This represents a $10 trillion opportunity - or risk - for generational wealth and community preservation.
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Seizing the Moment
A STORY OF LEADERSHIP AND LEGACY
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The United States stands at the threshold of the largest generational wealth transfer in modern history. As Baby Boomers retire, nearly half of all U.S. small business owners will soon decide whether to sell, shutter, or transition their companies. This shift, widely known as the ‘Silver Tsunami,’ represents an estimated 60% of small business owners nearing retirement who lack a formal succession plan. This represents a $10 trillion opportunity - or risk - for generational wealth and community preservation.
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Recent research by the National Center for the Middle Market and Wells Fargo profiled Black-owned middle-market firms with revenues ranging from $20 million to $500 million. These firms span construction, logistics, and IT—yet most operate without tailored advisory support to prepare for or execute mergers or acquisitions.
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Seizing the Moment
A STORY OF LEADERSHIP
AND LEGACY
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The United States stands at the threshold of the largest generational wealth transfer in modern history. As Baby Boomers retire, nearly half of all U.S. small business owners will soon decide whether to sell, shutter, or transition their companies. This shift, widely known as the ‘Silver Tsunami,’ represents an estimated 60% of small business owners nearing retirement who lack a formal succession plan. This represents a $10 trillion opportunity - or risk - for generational wealth and community preservation.
Recent research by the National Center for the Middle Market and Wells Fargo profiled Black-owned middle-market firms with revenues ranging from $20 million to $500 million. These firms span construction, logistics, and IT—yet most operate without tailored advisory support to prepare for or execute mergers or acquisitions.
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Making the Case for Inclusive M&A
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Making the Case for Inclusive M&A
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USBC’s Action Plan
FILLING THE GAPS FOR BLACK BUSINESS SELLERS
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To close these gaps, the USBC actively advances solutions that ensure Black business owners are not only prepared for M&A opportunities but positioned to thrive within them. Among other solutions, these include:
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USBC’s Action Plan
FILLING THE GAPS FOR BLACK BUSINESS SELLERS
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To close these gaps, the USBC actively advances solutions that ensure Black business owners are not only prepared for M&A opportunities but positioned to thrive within them. Among other solutions, these include:
