The “Silver Tsunami” refers to the wave of Baby Boomers—those born between 1946 and 1964—reaching retirement age, a demographic shift with significant implications for small businesses. As this generation ages, an estimated 10,000 Baby Boomers retire each day, and many of them own small businesses. In fact, according to the U.S. Census Bureau, nearly 2.34 million businesses in the U.S. are owned by individuals over the age of 55, accounting for 50% of all small businesses.