Coverage from WWMT, published 2026-03-18.
WWMT News Channel 3 reported March 18, 2026, that the retirement of baby boomer business owners could reshape West Michigan’s economy, and that Kalamazoo Forward Ventures is treating the shift as an opening rather than a crisis. More than 10,000 Americans turn 65 each day, according to AARP, and all boomers will be past retirement age by the end of 2029. KZFV co-founder and operating chief Dwayne Powell Jr., said more than 2 million businesses nationwide are expected to change hands within a decade, representing $10 trillion to $15 trillion in assets, and framed the firm’s work as investing in under-invested entrepreneurs to build shared wealth.
W.E. Upjohn Institute economist Brad Hershbein, said calling it a crisis overstates the national picture but warned that rapid local closures could devastate communities. The firm’s Tsunami Lab is a 12- to 16-week program covering marketing, accounting, operations and deal structuring.
Its first cohort will include 15 entrepreneurs from within 40 miles of Kalamazoo, backed by a $50 million fund. Registration closed March 19.
