Acquire Local Inaugural Event

Aspiring owners and retiring founders meet in Brooklyn to learn how businesses change hands; acquisition and succession, made practical. When a longtime business owner is ready for their next chapter, they rarely close due to bankruptcy. It’s something much quieter: The lack of a succession plan. Across the country, 2.9 million businesses are owned by founders aged 55 and older. Yet, an alarming 85% lack a formal transition plan. When they quietly shut their doors, our neighborhoods lose essential jobs, decades of accumulated knowledge, and local wealth. But closing doesn’t have to be the only path. That’s why we created AcquireLocal: to connect retiring owners with experienced professionals ready to take on business ownership through acquisition, along with the capital and advisors needed to make it happen. Acquire Local is more than a business transaction AcquireLocal is an awareness, education, and community connection initiative that gives prospective entrepreneurs and SMB owners the knowledge, guidance, resources, and trusted relationships needed to navigate acquisition and succession. AcquireLocal focuses on ETA at Main Street scale: Established SMBs generally valued under $10 million, the size range that qualifies for SBA-backed financing, Community Development Financial Institutions (CDFI) lending, and other community capital. • For professionals: A business acquisition can create income, greater financial control, renewed purpose, and a legacy for the next generation. • For small business owners: A successful transition can provide financial value, protect employees and customers, and allow the business and its owner's legacy to continue. • For communities: Keeping viable businesses open preserves jobs, services, relationships, institutional knowledge, and locally held wealth.