Coverage from Yahoo News, published 2026-03-18.
West Michigan’s business landscape could change substantially during the coming ten years as owners from the baby-boom generation retire, according to a WOOD TV report carried by Yahoo News. Citing Kalamazoo Forward Ventures, the story said almost 40 percent of the country’s small businesses are boomer-owned and that many of those owners lack succession plans. Paul Isely, professor of economics at Grand Valley State University’s Seidman College of Business, said West Michigan is especially exposed because it has more family-owned businesses than most regions, and warned that sales to outside buyers would move decision-making, corporate power and philanthropy away from the area, potentially triggering disinvestment and layoffs.
Isely said a groundswell of organizations is working to pair retiring owners with local buyers, among them Kalamazoo Forward Ventures, described as a Black-founded investment firm, which launched the Tsunami Lab program. KZFV leaders Dwayne Powell Jr. and Marcel Fable Price told the outlet the 12- to 15-week program will prepare 15 aspiring entrepreneurs, fund three to five to buy a business, and help as many as 50 West Michigan companies sell locally. Applications were due March 19.
