TIDAL WAVE: Walter Vicente is a master stitcher, sample maker and worker-owner at the Valdese-based company Opportunity Threads. With nearly half of local businesses owned by baby-boomers, economic analysts are working to draw attention to the impending mass retirements of these owners, while others advocate alternative succession plans, like employee cooperatives. Photo courtesy of Opportunity Threads.

Passing the torch: What happens when local business owners retire?

With 45 percent of business owners in Buncombe County alone facing retirement in the next decade, local groups and service providers are encouraging them to start planning for their company’s next chapter, while simultaneously devising ways to turn an impending crisis into an opportunity for employees to shoulder new responsibilities.