By Eric Schimpf, President, Merrill Wealth Management
Having spent many years living and raising my family in Atlanta while leading Merrill’s Southeast division, I’ve had the opportunity to watch the region’s growth firsthand. During a recent visit with colleagues and clients, I was reminded not only of Atlanta’s continued momentum, but also of the important role longstanding business owners continue to play in its success.
What stood out most during those conversations was the number of owners beginning to think seriously about succession. Some are evaluating a future sale. Others are preparing family members or key executives to take on greater responsibility. Many are recognizing that decisions once viewed as years away may deserve attention now.
Georgia is home to more than 1.4 million businesses, and many of the companies that have helped drive the region’s economy were built over decades by owners who remain involved in their operations.1 Increasingly, those owners are thinking about the future of the businesses, employees and communities they have helped build.
During recent visits with clients alongside Allen Jones and Terius Dolby, Merrill Atlanta Market Executives, more owners sought guidance on potential sales, succession plans and other liquidity events. Whether a transaction is imminent or still years away, early planning can create greater flexibility, help protect business value and ease the transition for employees, customers and family members.
Nationally, more than half of business owners with employees are age 55 or older, creating a wave of potential ownership transitions over the coming decade.² This shift is called the “Great Business Transfer.” Across the country, an aging generation of owners are considering how to transfer or monetize companies that represent not only financial value but also years of hard work, employee relationships and personal legacy.
Today’s M&A market presents opportunities and owners who are prepared are often in the strongest position to take advantage of them. Buyers want to see more than strong financials. They want to see businesses that can continue to grow and perform without relying entirely on the owner. The earlier owners begin preparing, the more flexibility they typically have when opportunities arise.
Just as important as preparing the business is preparing personally. For many entrepreneurs, the business represents the majority of their wealth. Before a transaction occurs, owners should think about what comes next: their income needs, tax considerations, family goals, philanthropic priorities and how they want to invest in the future.
We’re also seeing closer collaboration between Merrill Lynch advisors and Bank of America business bankers in Atlanta as business owners seek more integrated advice. Those conversations often extend beyond the business itself, bringing together advisors, bankers, accountants and attorneys to help owners think through both business and personal considerations. That’s especially true for owners considering a future sale or succession plan, where the most important discussions often start well before a transaction and focus on family, employees, purpose and legacy.
Atlanta continues to attract companies, capital and talent, helping fuel one of the country’s most dynamic business environments. As the region continues to grow, the successful transition of established businesses will play an important role in preserving jobs, supporting local economies and helping these companies continue to contribute to Atlanta’s growth under new ownership and leadership.
Whether a transaction is years away or actively being considered, now may be the time to begin building a team of advisors who can help evaluate options and prepare for what comes next.
1 University of Georgia Small Business Development Center, Small Business and Its Impact on Georgia (2026)
2 U.S. Census Bureau Annual Business Survey (2023)
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